When finalised this draft standard practice statement will replace SPS 13/01, and reflect updated legislative requirements contained in the Contract and Commercial Law Act 2017 and Contract and Commercial Law (Electronic Transactions Regulations) 2017, and reaffirms records may be kept in English or te reo Māori.

In our view the amendments in the exposure draft are sensible and timely to ensure taxpayers and third-parties are aware of their obligations when storing records outside of New Zealand or in a language other than English or te reo Māori. We support the continued requirement for certain phrases contained in the Goods and Services Tax Act 1985 to be in English and recorded using Arabic numerals.