dta tagged posts

Isle of Man – NZ Tax Agreement Now in Force

July 31, 2010 International TaxationNew Zealand Taxation

Laxey WheelNew Zealand and the Isle of Man are set to usher in a new level of tax transparency, cooperation and compliance, after two separate tax agreements between the countries came into force.

The High Commission in London has confirmed that the Governments of New Zealand and the Isle of Man have appropriately completed their legal ratification processes regarding the Tax Information Exchange Agreement (TIEA) and Double Taxation Agreement (DTA) signed by the countries. With the stipulated one year waiting period over, as outlined in the agreements, the DTA and TIEA came into force on July 27th.

Under the new TIEA, the Governments of both countries will be able to request taxation and bank information on taxpayers in cases of suspected tax evasion or investigations...

Read More

NZ Singapore Tax Agreement Progresses

May 14, 2010 International TaxationNew Zealand Taxation

IMG_5926The Double Taxation Agreement (DTA) between New Zealand and Singapore has come one step closer to enactment, having now been incorporated into New Zealand law.

On May 12th the New Zealand Government announced the signing of an Order in Council for the DTA between New Zealand and Singapore. The signing of the Order officially incorporates the agreement into national legislation. According to Peter Dunne, New Zealand Revenue Minister, the DTA will come into effect when the equivalent legal ratification process is carried out by the Government of Singapore.

The new agreement is intended to replace the DTA signed by Singapore and New Zealand in 1973. The DTA will lower withholding rates on dividends, royalties and interest...

Read More

NZ Negotiating DTA with Hong Kong

March 29, 2010 International TaxationNew Zealand Taxation

Hong Kong night sceneryThe New Zealand and Hong Kong Governments have announced that they intend to soon initiate a round of negotiations concerning the establishment of a Double Taxation Agreement (DTA) between the nations.

On March 29th Peter Dunne, New Zealand Revenue Minister, announced that the New Zealand Government and the Hong Kong Government expect to start negotiations on a DTA in October. The agreement aims to eliminate instances of double taxation on incomes earned by individuals and businesses entities while operating in the corresponding nation. The DTA will also feature measures to increase taxation transparency between the two nations, and comply with the Organization for Economic Cooperation and Development’s (OECD) international standards on tax information exchange.

Peter Dunne commented on ...

Read More

NZ-Australia DTA Come into Force

March 22, 2010 International FinanceInternational TaxationNew Zealand FinanceNew Zealand Taxation

The Seat of GovernmentThe Double Taxation Agreement (DTA) between Australia and New Zealand has come into force and will be applied with the new financial year, having been passed into legislature by both Governments.

After much public anticipation the New Zealand Government released a media statement on March 22nd announcing that New Zealand and Australia have given legal effect to the DTA and passed legal notes which to that effect, allowing the agreement to come into effect soon. The newly established withholding rates will apply from May 1st 2010 onwards, and all other changes will begin on April 1st.

Under the now-established tans-Tasman agreement tax-free pensions from one country will remain exempt if the recipient moves to the corresponding nation...

Read More