China tagged posts

John Key to Attend APEC Summit

November 19, 2008 International FinanceNew Zealand Finance  No comments

Prime Minister John Key is set to attend the APEC meeting in Lima, Per? on the 19th and 20th of November.

The Asia-Pacific Economic Co-operation (APEC) is most likely going to be based around the current economic situation of the world and the possible responses of all countries involved in the meeting. If the recently finished G20 summit is any indication, the economic situation will be the primary talking point.

The meeting is attended by 20 world leaders, and over 3600 delegates. Figures show that the trade between APEC countries accounts for almost half of that in the world and nearly 60 percent of the world’s Gross Domestic Product.

John Key is scheduled to meet the Queen of England, and the British Prime minister after the APEC meeting.

The current APEC countries are Australia,...

Read More

NZ-China FTA into Force

October 16, 2008 International FinanceNew Zealand Finance  No comments

On the 1st of October, a Free Trade Agreement between China and New Zealand came into force.

The Free Trade Agreement (FTA) between China and New Zealand was signed on the 24th of July. It was passed with a 104 for and 17 votes against in the New Zealand Parliament on the 7th of April. The Trade Minister Phil Goff was quoted as saying that the new FTA offered great opportunity for New Zealand to move into the world’s fastest growing market (China).

The most noticeable effect that will be felt on October 1st, is the abolishment of some tariffs on exports to China. The initial tariff cut was to any tariffs that were at or below five percent, roughly equating to 35% of all exports to China and 38.6% of imports from China...

Read More

New Zealand Double Taxation Agreements

September 1, 2008 International TaxationNew Zealand Taxation  No comments

Double taxation agreements are tax treaties between two countries. These agreements come into effect when a person is a tax-resident of both New Zealand and another country.

Double Taxation agreements prevent the situation of taxation on one income by two countries, through coming to an agreement as to what incomes will be taxed in the country of residence and exempt in the country of occurrence. It also deals with the opposite case where the income will be taxed at the country of occurrence and compensation arises in the country of residence.
Double Taxation also extends to more comprehensive sharing of tax information between tax authorities.

New Zealand currently holds double taxation agreements with the following countries:

Australia
Austria
Belgium
Canada
Chile
China
Czech Republic

Read More