The new NZ – Turkey double tax treaty (DTT) is now in force. In NZ the DTT is effective for withholding taxes after January 1, 2012. For other provisions the DTT is effective for income years beginning on or after April 1, 2012. In Turkey the DTT is effective from January 1, 2012.
The Revenue Minister has announced the following non-resident withholding tax (NRWT) rates for Mexico and Chile which apply retrospectively from May 1, 2010:
For royalties paid between NZ and Chile the rate has reduced from 10 % to 5 % .
For dividends arising in NZ and Mexico the rate has reduced from 15 % to either 5 % or 0 %.
The new UK – NZ DTT is still being negotiated as NZ and UK do not agree on a number of issues.