DTA between New Zealand and Papua New Guinea entered into force
The new double tax agreement between New Zealand and Papua New Guinea entered into force on 21 January 2014. The agreement was originally signed on 29 October 2012. Under the terms of the agreement the maximum withholding tax on dividends is 15%,
See MoreDTA between New Zealand and Papua New Guinea
The double taxation avoidance agreement between New Zealand and Papua New Guinea entered into force on January 21, 2014. For withholding taxes the agreement takes on effect from March 1, 2014. As far as other provisions of the agreement, in New
See MoreDTA between New Zealand and Papua New Guinea entered into force
On Monday, February 10, 2014 the New Zealand Revenue Minister announced that a new double tax avoidance agreement between New Zealand and Papua New Guinea is now in force. The agreement contains a provision on the exchange of tax information in
See MoreNew Zealand: Welfare Reforms will reduce costs
The costs to the taxpayer from benefits have fallen due to benefit reforms. The latest valuation current lifetime liability of the New Zealand welfare system estimates the liability at NZD76.5bn, a fall of NZD10.3bn. The saving came from having
See MoreNew Zealand: Non-residents must register for GST from April 2014
The New Zealand Inland Revenue Department has set out mandatory requirement for non-resident taxable persons to register for the Goods and Services Tax (GST) from 1 April 2014 if they provide local taxable supplies. The criteria to meet to register
See MoreTreaty between New Zealand and Japan entered into force
The double tax agreement (DTA) signed between New Zealand and Japan on December 10, 2012, will become effective in New Zealand, for withholding taxes from January 1, 2014, and for income taxes for income years beginning on or after April 1, 2014.
See MoreNew Zealand’s tax developments in 2013
Tax and policy developments in New Zealand for the year of 2013 were: Distributed the OECD tax “action plan” in response to concerns around profit shifting by multinationals, launch of the legislation containing changes to the tax treatment of
See MoreNew Zealand: Legislation Brings Clarity to Tax Rules
The Government of New Zealand has been published an omnibus tax bill intended to bring significant clarity to the tax rules and make them easier for taxpayers to understand. The changes will restrict how much debt foreign investors are able to place
See MoreRatification of New Zealand-Canada Multilateral Tax Convention
The Multilateral Tax Convention will be entered into force from March 1, 2014 for New Zealand from March 1, 2014 and it qualifies signatories to exchange tax information, and New Zealand's Inland Revenue will be able to find assistance in collecting
See MoreNew Zealand: Government Releases Legislative Tax Orders
The government of New Zealand has issued two legislative orders which would ratify the Organization for Economic Cooperation and Development’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters and a tax information
See MoreNew Zealand – New Tax Policy Work Plan
The Inland Revenue of New Zealand released the government’s tax policy work program on 8 November 2013 that sets out the government’s focus for tax reform and development for the next 18 months. Creating further improvements to the tax and
See MoreNew Zealand – Supports BEPS Action Plan
The tax department of New Zealand released a report that endorses measures outlined by the Organization for Economic Cooperation and Development (OECD) action plan to deal with the taxation of large multinational corporations and the problems of
See MoreNew Zealand – Increase in the Family Tax Credit
The New Zealand Inland Revenue has announced that the minimum family tax credit will be increased starting from 1 April 2014. Low income families who work the minimum number of hours and who are not receiving a benefit will have an after-tax income
See MoreNew Zealand Tax Department Backs OECD BEPS Plan
New Zealand's Inland Revenue Department (IRD) has released a report that strongly endorses the measures drawn up by the Organization for Economic Cooperation and Development (OECD) for tackling base erosion and profit shifting. The OECD action plan
See MoreDTA between New Zealand and Japan Boosts Trade
The New Zealand Revenue Minister has exchanged diplomatic notes for tax treaty with Japan for reduces taxobstruction to the cross-border trade and investment. This reconsidered agreement will help the tax authorities recognize and prevent tax
See MoreNew Zealand: Taking Tough Stance on Tax Avoidance
A former businessman has been punished recently over a total of 87 tax-related charges, and the Inland Revenue Department of New Zealand has warned that it will continue with its “zero tolerance” approach to tax evasion. This approach to
See MoreNew Zealand reforms the Inland Revenue Department
The New Zealand Government has announced to reform the Inland Revenue Department which intended to make it easier and less costly to taxpayers’. The first things of changes need to improvements of processes, skills and capabilities, and
See MoreVietnam and New Zealand sign double tax agreement
New Zealand signed a new double tax agreement (DTA) with Vietnam on August 5, 2013. When will become effective, dividends will be subject to a maximum withholding tax of 5% where the beneficial owner is a company directly holding at least 50% of the
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