Hong Kong Ird Double Tax Agreement

“Double taxation treaties provide greater security in tax treatment, eliminate double taxation, reduce withholding taxes on cross-border investment income, and exempt certain short-term activities from income tax.” As part of this AA initiative, New Zealand financial institutions must verify their accounts and compile information that will then be notified to the tax office. The updated double taxation treaty allows for the first automatic exchange of information between New Zealand and Hong Kong until 30 September 2018. In most agreements signed by Hong Kong, residents can avoid double taxation through a tax credit.