Mail Post Types: IRD International Tax

Inland Revenue says automatic exchange of information with other tax jurisdictions around the world is proving a potent tool in the fight against tax evasion. IR’s International Revenue Strategy Manager, John Nash, says New Zealand is one of many jurisdictions committed to a global initiative led by the Organisation for Economic Co-operation and Development (OECD) on the automatic exchange of financial account information. “Using the Common Reporting Standard, all reporting…  Read more

Opportunities to dodge tax are shrinking with the completion of a new tax agreement with Switzerland, Revenue Minister Stuart Nash announced today. Mr Nash and the Swiss Ambassador David Vogelsanger have today signed documents to update the double tax agreement (DTA). The previous DTA was signed in 1980. “Double tax agreements are good for business because they reduce barriers to trade and cross-border investment, eliminate double taxation, and reduce withholding…  Read more

New Zealand is pushing on with efforts to ensure multinational companies pay their fair share of tax, with the release of proposed options for a digital services tax (DST). In February 2019, Cabinet agreed to consult the public on the problem of multinational digital companies which do substantial business in this country but pay no tax on income or revenues. Finance Minister Grant Robertson and Revenue Minister Stuart Nash today…  Read more

Economic ties between New Zealand and China are being strengthened with the successful negotiation of a new taxation treaty. The double tax agreement was signed by New Zealand’s Ambassador to China and by the Commissioner of the State Taxation Administration of China, at a signing ceremony in Beijing witnessed by the Prime Minister. “An update to the existing Double Tax Agreement (DTA) will reduce barriers to cross-border trade and investment,”…  Read more

Revenue Minister Stuart Nash has announced New Zealand is expanding its global ability to combat tax evasion by joining forces with authorities in 30 countries and jurisdictions. Cabinet has agreed to add another 30 territories to the current list of 60 jurisdictions where New Zealand has information-sharing agreements as part of a global standard known as the Automatic Exchange of Information (AEOI). “The addition of 30 new territories reflects increased…  Read more

New Zealand is to consult on the design of changes to tax rules which currently allow multinational companies in the digital services field to do business here without paying income tax. Finance Minister Grant Robertson and Revenue Minister Stuart Nash say Cabinet has agreed to issue a discussion document about how to update our tax framework to ensure multinational companies pay their fair share of tax in this country. “Highly…  Read more