SUNBIZ

Double Taxation Agreement With New Zealand Being Renegotiated

One of the key discussions during New Zealand Prime Minister John Key visit to Fiji which got extremely downplayed was to renegotiate our Double Taxation Agreement (DTA). The decision was
30 Jun 2016 11:48
Double Taxation Agreement With  New Zealand Being Renegotiated
New Zealand Fiji Business Council chairman Chander Sen (fourth from left), Minister for Industry, Trade and Tourism Faiyaz Siddiq Koya (middle), New Zealand High Commissioner to Fiji Mark Ramsden, Fijian High Commissioner to New Zealand Filimone Waqabaca, Investment Fiji chief executive officer Godo Muller-Teut with participants at the 2016 Path to Market Programme workshop at the Tanoa Plaza Hotel in Suva yesterday. Photo: RACHNA LAL

One of the key discussions during New Zealand Prime Minister John Key visit to Fiji which got extremely downplayed was to renegotiate our Double Taxation Agreement (DTA).

The decision was made as part of bilateral meetings between our Prime Minister, Voreqe Bainimarama, and Mr Key.

New Zealand High Commissioner, Mark Ramsden, who is currently in the country as part of a business delegation for a trade and investment mission, has highlighted this.

Mr Ramsden confirmed the first round of negotiation with the respective taxation authorities is in November.

“I know the DTA has been a real frustration on both sides,” he emphasised.

“Fiji was New Zealand’s second ever DTA and believe me there is a very long list of countries which want to renegotiate their DTA with NZ because tax systems change.

“We are only small and we have little bureaucrat resources. Therefore, it is really great that Fiji is ahead of that queue.”

 

Why the need?

Fiji’s High Commissioner to New Zealand, Filimone Waqabaca, said the DTA with New Zealand was signed quite some time ago – perhaps a few decades ago.

And since then, Mr Waqabaca said a lot of things have evolved and changed in the taxation systems.

“The taxation structures have changed, the incentives needed to attract investment and perhaps it is due time for this Double Taxation Agreement to be re-looked at by both countriesl,” he said.

“We will have our tax experts from the Fiji Revenue and Customs Authority and their counterparts in New Zealand discussing the details of what sorts of areas needs to be looked at.

“This would be to remove some of the ambiguity and make investment climate more attractive for businesses from New Zealand and businesses from Fiji.”

Feedback:  rachnal@fijisun.com.fj

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