New Zealand cabinet approves double tax agreement with U.S.
The New Zealand cabinet has approved a double tax agreement with the United States, Prime Minister John Key said on Monday December 1, 2008.
He said the protocol would reduce withholding tax on interest, dividends and royalties between the two countries.
“It’s a good piece of work…it has a cost anticipated at about20 million NZ dollars (10.9 million U.S. dollars),” he said at his post-cabinet press conference.
The agreement will be signed in Washington overnight New Zealand time.
Source: China View December 1, 2008
