NZ and Belgium Sign DTA Amendment

December 10, 2009 International TaxationNew Zealand Taxation

United Future AnnouncementThe On December 7th, Governments of New Zealand and Belgium signed a second protocol amending their currently active Double Taxation Avoidance (DTA) agreement.

The second protocol to the New Zealand-Belgium DTA was created to ensure the standing agreement’s relevance and applicability to the current tax laws of both countries. The DTA agreement is required to be amended in both countries before the second protocol can come into legal effect, in New Zealand this is done by Order in Council. Peter Dunne claimed in a media statement on December 10th, that he expects progress to be announced in early 2010.

The original DTA between New Zealand and Belgium was signed on September 15th, 1981, and came into force December 8th, 1983. New Zealand currently holds 35 DTA agreements and 10 Tax Information Exchange Agreements, one of which is with Belgium.

Photo by nznationalparty