New Zealand and Hong Kong today signed a protocol to their tax treaty allowing for the automatic exchange of information in tax matters between the two countries.
The countries’ 2010 tax treaty only allows for exchange of information on request. By updating the treaty to allow for automatic exchange, the treaty will be in line with the G20 and OECD international taxation standards.
“This will allow New Zealand to meet its international obligations to complete the first automatic exchange of information by 30 September 2018,” New Zealand Revenue Minister Judith Collins said.
The protocol is not yet in force; for that to happen, the countries completed their respective legal requirements.