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Double Tax Agreement Signed in Apia 8 July 2015

Thursday 9th July 2015

Prime Minister John Key during his visit to Samoa yesterday signed a double-tax agreement with his counterpart Prime Minister Tuilaepa Lupesoliai Sailele Malielegaoi. The DTA was first tabled by the High Commissioner Leasi Papalii Scanlan in 2012 to the Deputy Prime Minister and Minister of Finance Hon Bill English with the vision to increase trade and investment between New Zealand and Samoa and reduce tax obligations for both countries during these exchanges. Finally, this has come to fruition during an announcement yesterday the day of the historical match between the Manu Samoa and All Blacks. The double-tax agreement will help reduce tax barriers to two-way trade and investment by preventing cross-border income being taxed twice. Mr Key said it would help further trade relationships between the two countries and acknowledged it would be particularly beneficial for Samoa. "New Zealand is Samoa's second largest trading partner. The agreement will provide a platform for increased trade and investment between our two countries - and will help assist the economic development of our Pacific Island neighbour." The new tax agreement will come into effect later this year once all internal procedures for both countries have been finalised.