NZ and Netherlands Antilles sign tax information exchange agreement
New Zealand and the Netherlands Antilles have signed a bilateral agreement to exchange information for tax purposes, Revenue Minister Peter Dunne announced today.
The agreement provides for full exchange of information on criminal and civil tax matters between the two countries.
"Ultimately, what tax information exchange agreements do is prevent people from avoiding tax by hiding their money in another country," Mr Dunne said.
"There is a growing trend internationally towards greater transparency and co-operation between countries in tax matters, and I welcome the signing of this tax information exchange agreement, which is a first for New Zealand," Mr Dunne said.
The Netherlands Antilles was one of several countries that in 2000 agreed to work with OECD countries to improve transparency and establish effective information exchange for tax purposes.
The agreement was signed yesterday in Canberra, where Australia signed its own tax information exchange agreement with the Netherlands Antilles.
The agreement will come into force once both countries have completed the relevant domestic procedures, which in New Zealand’s case will be an Order in Council.
The text of the agreement is available at http://www.taxpolicy.ird.govt.nz
Contact: Ted Sheehan, press secretary, 04 470 6985 or 021 638 920 [email protected]