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Convention between the Republic of Korea and New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income
Treaty Type:
Bilateral/Plurilateral
Common Name:
Responsible Department:
Inland Revenue
Administering Department:
Inland Revenue
Treaty Summary:
The negotiations were entered into with the aim of concluding a new Double Tax Agreement (DTA) with the Republic of Korea to replace the existing DTA that dates back to 1981.
NZ Adherence Status:
In Progress
Negotiation Status:
A first round of negotiations was held in April 2015, and a second round was held in July 2016. Timing for a third round has not yet been set.
Organisation:
Is Signed By NZ:
No
Signature Date:
Ratified or Signed:
No
Requires Ratification:
No
NZ Territorial Applications:
None
Information about required Legislation:
An Order in Council, made under section BH 1 of the Income Tax Act 2007, will need to be made to give effect to the agreement under New Zealand law.
Impacts on Maori:
This is a standard DTA which provides benefits to taxpayers generally in respect of cross-border activity and investment with Korea. No specific impact on Maori interests.
Impacts on Stakeholders:
DTAs are generally seen as taxpayer and business 'friendly'. They are entered into to reduce tax impediments to cross-border trade, investment and economic activity.
Link To Legislation:
Treaty Text Link:
Contact Information:
If you would like more information about this Treaty please contact us using our contact form.