Announcements
PUBLISHED 28 July 2008

DTA progress: Czech Republic, UK update

Arrangements for a new double tax agreement with the Czech Republic took a further step towards completion with the signing today of an Order in Council that incorporates it into New Zealand law. A second Order in Council also signed today completed legislative procedures for the update of the 1983 double tax agreement with the United Kingdom. Both are expected to enter into force in late August or early September, once final diplomatic procedures have been completed. For more information see the media statement.


Hon Peter Dunne
MP for Ohariu Belmont
Minister of Revenue
Associate Minister of Health

MEDIA STATEMENT

Tax treaty with Czech Republic nears completion

Arrangements for a new double tax agreement with the Czech Republic took a further step towards completion with the signing today of an Order in Council that incorporates the agreement into New Zealand law, Revenue Minister Peter Dunne announced today.

“The Czech Republic has already completed its necessary legislative procedures for the double tax agreement, so we can expect its entry into force in late August or early September, once the final diplomatic procedures have been carried out,” Mr Dunne said.

“Double tax agreements are very useful treaties that reduce tax impediments to trade and investment between two countries.

“They prevent cross-border income being taxed twice, give greater certainty about how that income will be taxed, and lower compliance costs and tax on some income.

“Once in force, the new double tax agreement with the Czech Republic will be our 35th such treaty,” Mr Dunne said.

Ends

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