Inland Revenue - Tax policy Tax Policy

News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
- updates on the progress of bills through Parliament
- policy announcements

NZ signs three more TIEAs

14 August 2009

New Zealand has signed Tax Information Exchange Agreements with three more tax jurisdictions – the Cayman Islands, British Virgin Islands and Gibraltar, the government announced today. The new TIEAs will come into force once New Zealand and the other jurisdictions involved in each agreement have given legal effect to them. For more information see the media statement and the text of the agreements.


Hon Peter Dunne
Minister of Revenue

MEDIA STATEMENT

Dunne: NZ signs three more tax info agreements

New Zealand has signed tax information exchange agreements (TIEAs) with another three tax jurisdictions, Revenue Minister Peter Dunne announced today.

TIEAs were signed with the Cayman Islands and the British Virgin Islands in Washington DC overnight New Zealand time, while a TIEA with Gibraltar was signed at a ceremony in London.

TIEAs are bilateral treaties that provide for full exchange of information on civil and criminal tax matters between two countries.

"Recent months have seen a flurry of TIEA signings internationally, as low-tax offshore financial centres seek to achieve a sufficient number of TIEAs to allow them to be seen as meeting the OECD's standards for transparency and information exchange." Mr Dunne said.

"I welcome the signing of this latest group of TIEAs, which brings to eight the number of these agreements New Zealand has entered into this year," Mr Dunne said.

The new TIEAs will come into force once the countries involved in each agreement have given legal effect to them.

The three latest agreements are available at www.taxpolicy.ird.govt.nz

Mark Stewart - Press Secretary, Office of Hon Peter Dunne
Cell +64 21 243 6985