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Government Inquiry into Foreign Trust Disclosure Rules

Page updated 29 Jul 2016

The Minister of Finance and the Minister of Revenue have appointed John Shewan to constitute the Inquiry into Foreign Trust Disclosure Rules.

The Inquiry was established on 19 April 2016 and was authorised to begin hearing evidence from 19 April 2016.  The Inquiry was due to report to the Ministers on 30 June 2016.

The Terms of Reference gazetted on 19 April 2016 are available on the New Zealand Gazette website.

Read the media statement by Hon Bill English, Minister of Finance and Hon Michael Woodhouse, Minister of Revenue on establishing the review on the Beehive website: Review of foreign trust disclosure rules (11 April 2016).

The Inquiry has reported its findings and recommendations to the Ministers

The Inquiry reported to the Minister of Finance and Minister of Revenue on 20 June 2016.  The Ministers released the report on 27 June 2016.  The report is available in the Documents Published section below.  Read the Government media statement on releasing the report at Govt releases foreign trusts inquiry and steps to strengthen international tax rules (27 June 2016)

The Treasury will make a proactive release of Inquiry documents in late July.

John Shewan, CNZM

John Shewan is a company director and an adjunct professor in the Business School at Victoria University of Wellington. Until his retirement from the position in 2012 he was chairman of PwC New Zealand. He has served on a number of tax policy committees, including the Tax Working Group which reported in 2010. He chaired the Government’s Tax Education Office from 1988 to 1998.

He was made a Companion of the New Zealand Order of Merit in 2012 for services to business.

Inquiry Process

The inquiry invited submissions from interested parties and accepted submissions made by the public through this website.  The Inquiry also interviewed government departments responsible for the policy and administration of disclosure and reporting requirements for foreign trusts.  These include Inland Revenue, the Ministry of Justice, the Department of Internal Affairs and the Police. The Inquiry also consulted with the Office of the Privacy Commissioner and the Department of the Prime Minister and Cabinet.

Documents Published by the Inquiry

Inquiry documents listed here are available in Adobe PDF format only in some cases. HTML versions can be supplied on request by Information Services at the Treasury.  Using PDF Files

Documents Released by the Treasury

Submissions made to the Inquiry

Background information provided to the Inquiry by Inland Revenue

Official Information about setting up the Inquiry

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