Tim Grosser tagged posts
The Governments of Russia and New Zealand have commenced preparation for future negotiations of a bilateral Free Trade Agreement (FTA).
On May 31st the Government of New Zealand released a statement announcing the commencement of groundwork for the eventual negotiations of a FTA between New Zealand and Russia. The statement was released shortly after a meeting between Tim Groser, Trade Minister of New Zealand, and Elvira Nabiullina, Russian Minister of Economic Development, held in Moscow. Tim Groser summarized the achievements of the meeting, saying, “Russia has agreed to proceed towards a formal trade agreement with New Zealand, subject to a satisfactory outcome of scoping discussions.”
According to a New Zealand Government statement, a FTA with Russia could be of great benefit to Ne...Read More
The signing of a new Double Taxation Agreement (DTA) between Australia and New Zealand has taken place.
On the 29th of June New Zealand Trade Minister Tim Groser signed the new agreement on behalf of New Zealand in a Paris based ceremony. There is no date set yet to its enforcement as in it needs to be legally enacted in both countries. In New Zealand this will happen by the Order of the Council, which is expected to occur later in 2009.
The key changes in the new DTA, according to Tim Groser, are lower withholding taxes on dividend and royalty payments between Australia and New Zealand, changes to pension payments, and overall reduced compliance costs.
In the new DTA the standard withholding tax rate on dividends will be 15%, but, 5% for an investing company has at least a 10% shareholdi...Read More