The double taxation agreement between the UAE and New Zealand was signed in 2004 and entered into force one year later. This important convention was meant to avoid the fiscal evasion and to impose the taxation on incomes only in one of the two contracting states where a company is registered or where an individual earns money. People or enterprises with profits or incomes in the UAE or New Zealand should know that the tax period is one year. Our lawyers in Dubai can offer legal advice and information about the taxation system in the UAE and about the taxes you need to consider if you have a registered business in the country.
Taxes covered by the UAE – New Zealand double tax treaty
The dividends, the incomes, the salaries, the pensions, the revenues, the interests, the profits, and the royalties are covered by the double tax treaty between the UAE and New Zealand, meaning they are going to be levied only once, in one of the countries where these incomes are registered. It is good to know that natural persons with registered incomes in the home country, besides the ones in the state where a work contract is issued, he/she will be levied in accordance with the local law. Additional details and information about the double taxation convention between the UAE and New Zealand can be obtained from our attorneys in Dubai.
DTT between the UAE – New Zealand provisions
The double taxation treaty between the UAE and New Zealand affirms that citizens with residency in both countries will be levied only if the permanent residency is established, in one of the contracting states. The profits of a resident from an immovable property which is registered in the UAE or New Zealand will be levied in one of these states, according to the significant double taxation agreement.
As for the incomes of a business or company in the UAE or New Zealand, these are going to be levied only in the country where the permanent establishment is settled, as stipulated in the DTT.
Please do not hesitate to get in touch with our law firm in Dubai for comprehensive information about the double taxation agreement between the UAE and New Zealand.