Aotearoa New Zealand Newsletter

Expressions of interest to join the Digital Advisory Group (DAG) in 2025 are closing at 5pm on Friday 15 November. If you're interested in learning more about the DAG or want to submit an EOI, head to our website. 

On 5 November, the New Zealand Government announced new Government Procurement Rules requiring more government agencies to send and receive eInvoices and pay eInvoices within 5 business days. 

The new Rules require mandated government agencies to:

• Implement eInvoicing send and receive capability by 1 January 2026, for agencies that send and/or receive over 2,000 domestic trade invoices annually
• Pay 95% of domestic trade eInvoices within 5 business days by 1 January 2026, and report payment times via MBIE. Agencies are also tasked with paying other invoices within 10 business days from 1 January 2025. 

Are you ready for eInvoicing?

Inland Revenue (IR) has released its Annual Report for 2024, highlighting progress in digital transformation, compliance and collaboration. Our key takeaways from the Annual Report include:

• With 99.2% of tax returns filed digitally and most digital interactions with the tax system handled by gateway services, IR continues to invest in its capabilities
• IR's efforts to tackle non-compliance include leveraging analytics to prevent fraudulent claims and manage overdue tax debt, now at $7.92 billion
• IR is reducing compliance burdens for SMEs through improved online tools and reducing uncertainty for larger companies
• The Digital Advisory Group and collaboration with DSPANZ is allowing for DSPs to co-design solutions and contribute to New Zealand's growing digital tax ecosystem
• Initiatives such as the OECD's Crypto-Asset Reporting Framework (CARF) and the GloBE rules for multinationals signal new reporting requirements.

Read the full Annual Report here. 

The Ministry of Business, Innovation and Employment (MBIE) has released its Annual Report for 2023/24. The Annual Report includes key updates related to eInvoicing and employment relations. Here's our key takeaways:

• MBIE is advancing plans to consult on changes to the Holidays Act 2003, aiming to simplify calculations for holiday and sick pay
• MBIE will continue to support the Government in addressing business payment times through non-regulatory measures, including a focus on eInvoicing adoption
• MBIE launched a new dashboard to provide transparency on central government agency payment practices, which will be updated quarterly.

Read the full Annual Report here. 

The minutes from the Digital Advisory Group (DAG) meeting held on 10 October are now available on our website here. Catch up on past DAG meetings and learn more here. 

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