Press Information Bureau

Government of India

Ministry of Finance

07-November-2017 19:05 IST

The Third Protocol for amendment of the Convention between the Government of the Republic of India and the Government of New Zealand for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed by both countries on 26th October 2016. The Protocol entered into force in India on 7th September 2017 and has been notified in the Official Gazette on 2nd November 2017.

The Protocol updates the existing framework of exchange of tax related information to latest international standard which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

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DSM/SBS/KA

Exchange of tax information modernisation enables enhanced mutual assistance in tax collection and curbs cross border tax evasion. The Third Protocol amends the India-New Zealand Convention on avoidance of double taxation and prevention of fiscal evasion by modernising the framework for exchange of tax related information to international standards, has entered into force in India and been notified, and facilitates mutual assistance in collection of taxes to strengthen cross border detection and recovery of tax liabilities.