Tuesday, May 3, 2016
New Zealand's Minister of Finance, Simon English, and the Minister of Revenue, Michael Woodhouse, has established a government inquiry into Foreign Trust Disclosure Rules.
As a result of the recent leak of the "Panama Papers," concerns have been raised about rules covering foreign trusts registered in New Zealand. The Cabinet has decided to initiate a review of New Zealand's disclosure rules relating to foreign trusts registered in New Zealand to ensure the county's reputation is maintained.
The inquiry will report on and make recommendations relating to:
The inquiry is to report findings and opinions to the appointing Ministers in writing by June 30, 2016.