Czech Republic tagged posts
The Double Taxation Agreement between New Zealand and the Czech Republic came into effect on the 3rd of September.
The double taxation agreement which was signed on the 30th of October, 2007, was welcomed into force by Revenue Minister Peter Dunne. He went further to say that trade between New Zealand and the Czech Republic has been growing and has future potential for expansion. He cited figures of $9.5 million worth of exports to the Czech Republic and $30 million worth of imports.
Peter Dunne elaborated on the double taxation agreement and stated that it is aimed at lowering impedance to trade and investing between the two countries, through increasing assurance and tax certainty, while lowering compliance costs and in certain cases, tax liability.
The newly active double taxation agre...Read More
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: