In 2023, the New Zealand Inland Revenue announced new reporting obligations for digital platforms, effective in 2024, based on the OECD Model Rules for Reporting by Platform Operators in the Sharing and Gig Economy. These rules require digital platforms in New Zealand to collect and report data on sellers receiving fees for specified services. With the reporting deadline approaching (February 7, 2025) it is crucial for these platforms to ensure the accuracy of the collected information and comply with the new regulations.
New Zealand Digital Platform Reporting: Key Details for Early 2025
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Author: Ivana Picajkić
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Fiscal subject related
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Content accuracy validation date:
05.12.2024
Content accuracy validation time:
08:33h
In 2023, the New Zealand Inland Revenue announced that starting in 2024, new reporting obligations for digital platforms will be implemented based on the OECD Model Rules for Reporting by Platform Operators concerning Sellers in the Sharing and Gig Economy. These rules require digital platforms based in New Zealand to collect and report data on sellers who receive fees for specified services offered through their platforms.
The main elements of the New Reporting Requirements are as follows:
- Scope of Services: The in-scope services include renting commercial and short-term accommodations, as well as personal services such as ride-sharing, food delivery, and graphic design.
- Data Collection: Digital platform operators must gather information about the services provided by sellers and the revenue generated through these platforms.
- Reporting Deadline: The first annual reports under these new requirements are due by February 7, 2025.
Digital platform operators that fail to collect and report the required information may face penalties of NZD 300 (approximately 176.36 USD) per instance of non-compliance, with a maximum penalty of NZD 10,000 (approximately 5,878.80 USD) per reporting year.
Additional penalties may apply for not exercising reasonable care regarding data collection, starting at NZD 20,000 (approximately 11,757.60 USD) for the first breach and escalating to NZD 100,000 (approximately 58,788.00 USD) for repeated violations.
As this is the first year that resident digital platform operators must adhere to these new rules, they need to prepare their reports diligently to avoid penalties. With the reporting deadline approaching, these platforms must ensure the accuracy of the collected information and comply with the new regulations.
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