Signatures Put To Tax Agreement
(New Zealand Press Association) WELLINGTON, June 13. The British-New Zealand double tax agreement was signed this morning by the Minister of Finance (Mr Lake) and the British Acting-High Commissioner (Mr B. G. Smallman).
Mr Lake said the agreement would not come into 1 effect until both countries had I drawn up Orders-in-Council < and observed the necessary legal requirements. He said the New Zealand , Order would probably be made toward the end of this ] month. The agreement would be retrospective • to April 1, 1965. 1 The text of the agreement i would be available in about < three weeks. <
Mr Lake said that under the agreement pensions would be taxed only in the country where the pensioner lived. Royalties payable to a resident of the other country would not bear more than 10 per cent tax in the country of origin. Business' profits would be taxed only in the country of residence unless a permanent establishment existed in the other country.
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Bibliographic details
Press, Volume CVI, Issue 31085, 14 June 1966, Page 3
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164Signatures Put To Tax Agreement Press, Volume CVI, Issue 31085, 14 June 1966, Page 3
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