8/22/2006

Poland-NZ double tax agreement in force

New Zealand's new double tax agreement with Poland has entered into force, Revenue Minister Peter Dunne announced Tuesday.

He said the agreement will take effect in both countries for withholding tax from Jan. 1, 2007. For other taxes it will generally take effect from Jan. 1, 2007 in Poland and from April 1 2007 in New Zealand.

Dunne said Poland's integration into the economy of the European Union, which it joined in 2004, should lead to significant trade opportunities for New Zealand.

Current exports to Poland include offal, butter, wool and tools, and imports to New Zealand include lamps, dried fruit, electrical switching equipment and glassware.

Double tax agreements remove tax obstacles to cross-border trade and investment. They prevent businesses being taxed twice on income, give greater certainty about how cross-border investment income is to be taxed, reduce compliance costs for some activities and lower tax on some income, said Dunne.

Source: Xinhua



Flights to Poland

Novea - Business in Poland