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Austria-New Zealand Double Tax Agreement Comes into Force

Folder with documents © photocase.com/Chobe

© photocase.com/Chobe

28 February 2008

New Zealand's Double Tax Agreements with Austria regarding withholding tax comes into force on 1 March 2008.

 New Zealand's Double Tax Agreement with Austria has now come into force. For withholding taxes, the Agreement takes effect in both countries from 1 March 2008. For other taxes, the Agreement generally took effect from 1 January 2008 but will come into force only from 1 April 2008 in New Zealand.

Double Tax Agreements contribute to strengthening economic relations between two countries: taxation obstacles otherwise encountered in cross-border trade and investment are removed, and businesses are relieved from being taxed doubly on their income.

In the financial year ending June 2007, Austrian exports to New Zealand totalled NZD 193 million. These deliveries mainly consisted of motor vehicles, records and tapes, base metal mountings and non-alcoholic beverages.

Further information can be accessed on the website of the New Zealand Inland Revenue Department / Policy Advice Division: www.taxpolicy.ird.govt.nz  

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