NZ-Netherlands-Antilles-Agreement

MEDIA STATEMENT from Honorable Peter Dunne, New Zealand Minister of Revenue, October 2, 2008

Netherlands Antilles tax information exchange agreement with New Zealand comes into force

New Zealand’s first tax information exchange agreement, concluded with the Netherlands on behalf of the Netherlands Antilles, has entered into force, Revenue Minister Peter Dunne announced today.

Tax information exchange agreements are bilateral international treaties that are designed to make it easier for tax administrations to detect and prevent tax evasion and tax avoidance.

They allow the parties to the agreements to request from each other relevant information including tax records, business books and accounts, bank information and ownership information.

"Exchange of information arrangements already feature in the 35 double tax agreements to which New Zealand is party," Mr Dunne said.

"However, the agreement establishing information exchange with the Netherlands Antilles is the first of a number of arrangements that New Zealand is seeking to establish outside of its double tax agreement network."

The agreement has effect from 1 January 2009.

The text of the tax information exchange agreement is published at www.taxpolicy.ird.govt.nz.

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