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News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
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New Zealand-Hong Kong tax treaty updated

28 June 2017

A new tax protocol between New Zealand and Hong Kong was signed today, which updates the current double tax agreement between the two jurisdictions to allow full exchange of tax information. For more information see the media statement and the text of the new Protocol.

Hon Judith Collins
Minister of Revenue

28 June 2017

Media statement

New Zealand-Hong Kong tax treaty updated

Revenue Minister Judith Collins has today signed a new tax protocol between New Zealand and Hong Kong. The protocol updates the existing double tax agreement between New Zealand and Hong Kong, to allow full exchange of information on tax matters between the two jurisdictions.

Once in force, the updated double tax treaty will require both Hong Kong and New Zealand to automatically exchange tax information with each other, in line with the G20 and OECD Automatic Exchange of Information global standard.

“This will allow New Zealand to meet its international obligations to complete the first automatic exchange of information by 30 September 2018,” Ms Collins says.

Under the global standard, New Zealand financial institutions must review their accounts and compile information to be reported.

New Zealand’s existing double tax agreement with Hong Kong was signed in 2010 but was limited to exchanges of information on request.

“The protocol will remove this limitation to allow automatic and spontaneous exchanges of tax information to take place,” says Ms Collins.

The Second Protocol will come into force once both signatories have completed their respective legal requirements.