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NZ-Samoa DTA Lowers Withholding Tax Rates

by Mary Swire, Tax-News.com, Hong Kong

01 February 2016


Concessionary rates of withholding tax in the New Zealand-Samoa double tax agreement became effective on February 1.

The new DTA replaced two existing tax deals: a tax information exchange agreement and a supplementary agreement, which were both signed in 2010.

The agreement provides that income from dividends will be taxed at a maximum rate of five percent, if the beneficial owner is a company that directly holds at least 10 percent of the voting power in the company paying the dividends, or otherwise 15 percent.

Interest income will be subject to a maximum withholding tax rate of 10 percent, if the beneficial owner of the interest is a resident of the other contracting state. Royalties may be taxed in both states, but such royalties may only be taxed in the contracting state in which they arise at a maximum rate of 10 percent, providing the beneficial owner of the royalties is a resident in the other contracting state.

Other provisions in the DTA will apply to income years beginning on or after April 1, 2016, in New Zealand, and to income years beginning on or after January 1, 2016, in Samoa.

TAGS: tax | business | double tax agreement (DTA) | interest | royalties | Samoa | agreements | tax rates | withholding tax | New Zealand | dividends

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