Revenue Minister has signed a new tax protocol between New Zealand and Hong Kong on 28th June 2017. The protocol updates the existing double tax agreement between New Zealand and Hong Kong, to allow full exchange of information on tax matters between the two jurisdictions. Once in force, the updated double tax treaty will require both Hong Kong and New Zealand to automatically exchange tax information with each other, in line with the G20 and OECD Automatic Exchange of Information global standard.
New Zealand’s existing double tax agreement with Hong Kong was signed in 2010 but was limited to exchanges of information on request. The Second Protocol will come into force once both signatories have completed their respective legal requirements.