A recent international review has praised New Zealand’s tax information exchange mechanisms, describing them as effective and well complemented by the country’s extensive network of international tax information exchange agreements. New Zealand’s implementation of international tax information exchange mechanisms were evaluated in an international peer review led by the Global Forum on Transparency and Exchange of Information for Tax Purposes, with a report on the findings being released on June 1st. According to conclusions drawn in the report, the New Zealand government and ... Read More

The New Zealand Inland Revenue Department (IRD) will begin closer scrutiny of new zealanders with undeclared offshore assets and incomes, in an effort to stop tax evasion. Last week the IRD released a statement disclosing its intention to utilize New Zealand's existing Tax Information Exchange Agreements (TIEA) to catch potential tax evaders. Martin Scott, Group Manager of Assurance, revealed that the IRD is particularly interested in discovering New Zealand tax residents undisclosed offshore bank accounts, overseas life-insurance policies and superannuation benefits. Under current ... Read More

The 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 ... Read More

New Zealand has signed new Tax Information Exchange Agreement with three countries. New Zealand has signed Tax Information Exchange Agreements (TIEA) with the Cayman Islands, the British Virgin Islands and Gibraltar. The Gibraltar agreement was signed in a London ceremony, while the other two were signed in Washington DC. Peter Dunne, New Zealand Revenue Minister, announced these new agreements on the 14th of August. He commented "Recent months have seen a flurry of TIEA signings internationally, as low-tax offshore financial centers seek to ... Read More