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


Double tax agreement with UK to be updated

6 November 2003 Media Statement

Double tax agreement with UK to be updated

New Zealand’s double tax agreement with the United Kingdom is being updated to allow for better exchange of information between the two countries, Revenue Minister Michael Cullen announced today.

“New Zealand is party to 27 double tax agreements, which are primarily aimed at reducing tax impediments to cross-border trade and investment, but also help tax administrations to detect and prevent tax evasion,” Dr Cullen said.

“The forthcoming changes to our double tax agreement with the UK are in the interests of both countries. Changes to the provisions relating to exchange of information will enable New Zealand to obtain information from the UK that does not involve a UK tax interest. This will assist New Zealand to enforce its own tax laws.

“The agreement is also being amended to address UK concerns about schemes that are designed to avoid UK capital gains tax.

“Provisions pertaining to business profits, dividends, interest and royalties are also being updated, and a provision governing the treatment of income that is not otherwise dealt with under the agreement is being inserted.

“A protocol amending the double tax agreement was signed in London on 4 November. It will enter into force once both countries have promulgated an Order in Council to give effect to the changes.

“Once the protocol enters into force, the changes relating to exchange of information and the UK capital gains tax will take will take effect from 4 November 2003. The other changes will take effect in New Zealand from 1 April following the date of entry into force,” Dr Cullen said.

The text of the protocol is available at


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Fair Pay Agreements Should Be Embraced

Are Fair Pay Agreements (FPAs) truly the work of the devil? Given the vehement response to them last week by (a) employer groups and (b) by their parliamentary friends on the extreme right, you could be forgiven for thinking these FPA things will mean curtains for commerce as we’ve known it for the past 30 years. Believe me, they won’t. Less excitable types will regard FPAs as heralding only a mild shift towards a more centralised form of bargaining over wages and conditions, much akin to what other successful economies (eg Germany) have recognised for decades... More>>


Government: Further Action Against Gang Crime

The Government will make it illegal for high risk people to own firearms by introducing Firearms Prohibition Orders (FPOs) that will strengthen action already taken to combat the influence of gangs and organised crime to help keep New Zealanders and their ... More>>


Maori Party: Whakatōhea High Court Decision

“We applaud the Whakatōhea High Court case that has now set a precedent for Māori rights and interest in their foreshore and seabed. It’s an outstanding decision because the Court recognises all reclaimed lands with significant and boating traffic” ... More>>


Judith Collins: Speech To Lower North Island Regional Conference

Good morning, delegates. It’s an absolute privilege to be speaking to you all here today as your leader. I’d like to acknowledge National Party President Peter Goodfellow, my fellow board members, my lower North Island colleagues and all of ... More>>

PM: Statement On The Speaker And Annual Review Debate

“The serious issue of alleged sexual assault and harassment at Parliament was poorly managed and inappropriately politicised last night. The tone of the debate did not reflect well on Parliament as a whole,” Prime Minister Jacinda Ardern said. ... More>>

Parliament: Mallard Fails To Give Taxpayers A Straight Answer

Trevor Mallard has confirmed he is unfit to be Parliament’s Speaker by failing to answer several important questions relating to the false rape accusation saga that cost taxpayers more than $330,000, Shadow Leader of the House Chris Bishop says. ... More>>

Local Government: Independent Review To Explore Future

Local Government Minister Nanaia Mahuta says an independent review of local government will explore how councils can maintain and improve the wellbeing of New Zealanders in the communities they serve long into the future. More>>


PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>




InfoPages News Channels