This note is not part of the regulations but is intended to indicate their general effect.

These regulations amend the Tax Administration (Reportable Jurisdictions for Application of CRS Standard) Regulations 2017 (the principal regulations) and come into force on 31 March 2025.

The principal regulations prescribe overseas territories to be reportable jurisdictions for the purposes of applying in New Zealand the Common Standard on Reporting and Due Diligence for Financial Account Information (the CRS applied standard), which is part of the Standard for Automatic Exchange of Financial Account Information in Tax Matters. Reportable jurisdictions are territories to which the Inland Revenue Department (IRD) may provide certain information about non-residents that is reported to IRD by financial institutions in accordance with the CRS applied standard.

These regulations add Armenia, Jordan, Rwanda, Senegal, and Tunisia as reportable jurisdictions for reporting periods beginning on or after 1 April 2024. Section 226(D)(2) of the Tax Administration Act 1994 allows for the retroactive application of these regulations.