Section Sch50-“ 32N — Income Tax Act 2007: Information requirements when payments for foreign dividends reduced

“ 32N Information requirements when payments for foreign dividends reduced “ (1) This section applies when a company pays FDP for a foreign dividend, and the amount is reduced under section RG 5(2) of the Income Tax Act 2007 by an amount of foreign withholding tax paid in relation to the dividend. “ (2) Before the reduction is made, the company must provide the Commissioner with all the information necessary to determine the amount of the foreign withholding tax. “ (3) The company must provide the information within the time allowed by the Commissioner in a case or class of cases, having regard to the period set out in section 78B. “ (4) If the company does not provide the information required under this section, the Commissioner may recover an amount equal to the amount of the foreign withholding tax as if it were income tax payable by the company. “ Compare: 2004 No 35 ss NH 2(4), NH 3(6) ” .