Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Tax Agreement with Viet Nam now in force

Tax Agreement with Viet Nam now in force

New Zealand's new double tax agreement with Viet Nam has now come into force, Revenue Minister Todd McClay announced today.

“The new double tax agreement (DTA) which was signed in August 2013 brings our network of tax agreements to 39 DTAs. It also increases our DTA coverage amongst our trading partners in the ASEAN region.

“In line with DTAs with our other trading partners, the new agreement will give businesses greater certainty over the tax treatment of cross-border investment income, reduce compliance costs for both New Zealand and Vietnamese investors, and will lower withholding tax rates on dividends, interest and royalties,” Mr McClay said.

Mr McClay said that double tax agreements helped encourage growth in economic ties between countries and promote cross-border trade by preventing businesses and individuals from being taxed twice on income earned in the other country. They also encourage investment by reducing withholding tax rates on interest and dividends.

"Extending and maintaining our network of double tax agreements is a priority for the government as DTAs play an important role in removing obstacles to cross-border trade and investment”.

Mr McClay said that double tax agreements were also a highly effective means for closing the net on avoidance and evasion.

The full text of the New Zealand-Viet Nam double tax agreement is available atwww.taxpolicy.ird.govt.nz.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: John Pilger, And Making War On China

In July, the New Zealand Defence Force is scheduled to join the latest round of Talisman Sabre, a huge training exercise that Australia carries out biennially in conjunction with all four arms of the US military.

Last time around in 2015, New Zealand contributed 650 personnel, 45 vehicles and two of our $NZ771 million dollar fleet of NH90 helicopters to this regional war game.

What’s weird is that Talisman Sabre is actually a rehearsal for an assault on China and its ability to defend itself. More>>

ALSO:

 
 

Urban Planning Report: Momentum Grows To Replace The RMA

A major new report from the Productivity Commission lays the foundation for action on the growing political consensus that the Resource Management Act and associated laws are failing both cities and the natural environment and need a complete rewrite. More>>

ALSO:

Vaping: Quitline Supports Decision To Legalise Nicotine E-Cigarettes

Today Associate Minister of Health, Hon Nicky Wagner has announced that Government are taking the proactive step of legalising nicotine e-cigarettes, a move which Quitline is pleased to hear and support wholeheartedly. More>>

ALSO:

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday. More>>

ALSO:

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news