Tax credits extended
The Government has made an additional item of expense eligible for tax credit under the Export Market Development Taxation incentive.
Sendees exporters can now claim tax relief on preparatory costs incurred in New Zealand in the course of tendering for services projects overseas. The off-shore costs of tender preparation already qualify for the export market development taxation incentive. They include initial; investigations, feasibility studies, and document preparation.
Amending legislation to the Income Tax Act, 1976, will be introduced into Pareliament later this year with retrospective effect from April 1, 1980.
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Press, 9 April 1980, Page 20
Word Count
93Tax credits extended Press, 9 April 1980, Page 20
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