Parliament

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

Turei To Be Interviewed By MSD: Gordon Campbell On The Real Truth Deficit In Welfare

It has been astonishing to see the amount of time and energy being spent on what Greens co-leader Metiria Turei did or didn’t do properly as a beneficiary back in the early 1990s – as compared to how little time and energy is being put into the point of her personal example.

Turei was citing her case in order to query whether much has changed – especially when it comes down to whether the current benefit levels and targeting rules at WINZ are helping or hindering today’s beneficiaries to escape from poverty. More>>

 

Gordon Campbell: On The Bojo Visit

British Foreign Minister Boris Johnson is in town, just over a year since his political career peaked… and then wobbled off into a grey zone of indecision… Currently, Johnson is touring the former colonies, talking up the historical ties. More>>

ALSO:

Tertiary Ed: Government Responds To Productivity Commission

The work programme will focus on four key areas. • Creating a more student-centred system • Meeting the needs of industry through relevant, responsive, and supportive teaching • Improving performance across the system • Enabling and encouraging innovative new models and providers More>>

ALSO:

PM's Science Advisor: Youth Suicide In NZ Discussion Paper

The paper discusses the multiple factors involved in youth suicide and possible and evidence-based approaches to prevention. It points out the very different context in which young people now live their lives and the challenges of the transition from childhood to adulthood. More>>

ALSO:

Drug Deaths: Accurate Information Is Vital

Drug Foundation: The spike in hospital admissions and reported deaths in Auckland as a result of people taking unknown substances is not being helped by an information vacuum. More>>

ALSO:

Backing Dunne & Seymour: National Signals Election Intentions

“We are encouraging National supporters to give their electorate vote to ACT candidate, David Seymour, in Epsom, and United Future candidate, Peter Dunne, in Ohariu – and their party vote to National." More>>

ALSO:

Climate Policy: Govt's New Proposals For ETS

“Last year, as a result of stage one of the review, we announced the phase out of the one-for-two measure in the ETS. I am now announcing further changes as a result of stage two of the review.” More>>

ALSO:

PM's Press Conference: Boris, Infrastructure, Immigration, Drugs

Prime Minister Bill English opened this week's post-cabinet press conference by revisiting that day's announcement of 'Crown Infrastructure Partners'... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election