Tax treaty between Hong Kong and New Zealand

This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice.

The Double Taxation Treaty (DTT) between Hong Kong and New Zealand, signed on 1 December 2010, came into force on 9 November 2011.

The treaty generally applies from 1 April 2012.

The DTT tax rates may vary in particular circumstances but will not exceed the following:

Debt Securities:	10%
Equities:	15%

The Market Taxation Guide (New Zealand) will be updated in due course to reflect the new Hong Kong-New Zealand treaty.

Note: No withholding tax is deducted on income from Hong Kong securities held in Clearstream Banking.