Tax Transfer Class Exemption
21 July 2022
The Associate Minister of Justice has granted a class exemption from most obligations under the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 for accounting practices in relation to tax transfer activities. The exemption commences 15 July 2022 and is valid until 14 July 2027.
The Department of Internal Affairs will soon publish guidance explaining how this exemption impacts accounting practices.
Details of the exemption can be found here: Anti-Money Laundering and Countering Financing of Terrorism (Class Exemptions) Amendment Notice 2022 (NZ Legislation website)
