World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

US & NZ Sign Protocol to Income Tax Treaty

US & NZ Sign Protocol to Income Tax Treaty

The Treasury Department announced today that Deputy Secretary Robert M. Kimmitt and New Zealand's Ambassador to the United States Roy Ferguson signed a protocol updating the current income tax treaty between the United States and New Zealand.

In a ceremony held at the Treasury Department, the two officials signed a Protocol that brings the existing tax treaty into closer conformity with current U.S. tax treaty policy. The new agreement provides for the elimination of source-country taxation of certain direct dividends, and interest paid to banks and other financial enterprises when the payer of the interest is not a related party. The new protocol also reduces the existing treaty's limit on taxation of cross-border payments of royalties to five percent.

The new protocol introduces a number of technical updates to the existing treaty, and also contains comprehensive and modern rules regarding limitation on benefits, non-discrimination and exchange of information.

The final version of the unsigned protocol is attached.

REPORTS

Protocol to the US, New Zealand Income Tax Treaty

ENDS

© Scoop Media

 
 
 
World Headlines

 

Euro-Med Monitor: Sudan Military Coup Shatters Democratic Path, Threatens With Authoritarian Rule Return
The Sudanese army's seizure of power in the country diminishes the hard-won human rights and civil gains achieved after the December 2018 protests, Euro-Mediterranean Human Rights Monitor said today in a statement...More>>


Weather: Pacific Likely To Experience Double Dip La Niña Episode

The Pacific is likely to experience a rare occurrence of what is called a double dip La Niña in the coming months, Climate models and predictions tools used by Pacific National Meteorological and Hydrological services (NMHSs) show...
More>>

CNS: Will India's 1 Billion Vaccination-dose-milestone Be Catalytic For Vaccinating All?

On 21 October 2021, India crossed its milestone of administering over 1 billion (100 crores) doses within 278 days since it began the vaccination rollout (on 16th January 2021)... More>>

Focus On: UN SDGs

Climate: ‘Vague’ Net Zero Promises Not Enough: Planet Still On Track For Catastrophic Heating, UN Report Warns

New and updated commitments made ahead of the pivotal climate conference COP26 in the past months are a positive step forward, but the world remains on track for a dangerous global temperature rise of at least 2.7°C this century even if fully met, a new report by the UN Environment Programme (UNEP) has warned... More>>

Pacific: Young Climate Leaders Call For Urgent Climate Action Ahead Of COP26

Eight Pacific Young Climate Leaders shared their experiences of climate resilience and activism in an inaugural dialogue with the Pacific Islands Forum Secretary General, Mr Henry Puna on 21 October 2021... More>>

UN: With Clock Ticking, Sustainable Transport Key To Global Goals
From electric cars and buses to zero-carbon producing energy sources, new and emerging technologies along with innovative policy changes, are critical for combating climate change. But to be effective, they must ensure that transport strategies benefit everyone, including the poorest... More>>