Statutory Instruments
2008 No. 1793
Capital Gains Tax
Corporation Tax
Income Tax
The Double Taxation Relief and International Tax Enforcement (Taxes on Income and Capital) (New Zealand) Order 2008
Made
9th July 2008
At the Court at Buckingham Palace, the 9th day of July 2008
Present,
The Queen’s Most Excellent Majesty in Council
A draft of this Order was laid before the House of Commons in accordance with section 788(10) of the Income and Corporation Taxes Act 1988(1) and section 173(7) of the Finance Act 2006(2) and approved by a resolution of that House.
Accordingly, Her Majesty, in exercise of the powers conferred upon Her by section 788(1) of the Income and Corporation Taxes Act 1988 and section 173(1) of the Finance Act 2006, by and with the advice of Her Privy Council, orders as follows—
Citation
1. This Order may be cited as the Double Taxation Relief and International Tax Enforcement (Taxes on Income and Capital) (New Zealand) Order 2008.
Double taxation arrangements to have effect
2. It is declared that—
(a)the arrangements specified in the Protocol set out in the Schedule to this Order which vary the arrangements set out in the Schedule to the Double Taxation Relief (Taxes on Income) (New Zealand) Order 1984(3) have been made with the Government of New Zealand with a view to affording relief from double taxation in relation to income tax, corporation tax and capital gains tax and taxes of a similar character imposed by the laws of New Zealand;
(b)those arrangements include provisions with respect to the exchange of information foreseeably relevant to the administration, enforcement or recovery of the taxes, and debts relating to the taxes, covered by the arrangements including, in particular, provisions about the prevention of fiscal evasion with respect to those taxes;
(c)those arrangements also include provisions with respect to the assistance in the collection of taxes; and
(d)it is expedient that those arrangements should have effect.
Judith Simpson
Clerk of the Privy Council
Article 2
SCHEDULE
EXPLANATORY NOTE
(This note is not part of the Order)
The Protocol scheduled to this Order makes certain alterations to the Convention signed at London on 4 August 1983, as amended by the Protocol signed at London on 4 November 2003.
Article 2 makes a declaration as to the effect and content of arrangements set out in the Protocol contained in the Schedule to the Order and that it is expedient that those arrangements should have effect.
A detailed explanation of the Convention can be found in the Explanatory Memorandum published with the Protocol and which may be accessed on the web site of the Office of Public Sector Information at http://www.opsi.gov.uk/stat.htm.
The Protocol will enter into force on the date of the later of the notifications by each country of the completion of its legislative procedures. It will take effect in both countries—
(a)in relation to the information referred to in Article I of this Protocol, in respect of such information that is requested or exchanged on or after the date of entry into force of this Protocol;
(b)in relation to revenue claims referred to in Article II of this Protocol, in respect of requests for assistance made on or after the date of entry into force of this Protocol.
The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
1988 c. 1: section 788 was extended by section 277 of the Taxation of Chargeable Gains Act 1992 (c. 12). It has also been amended. The relevant amendments are as follows: Subsection (1) was amended by section 88(1) of the Finance Act 2002 (c. 23). Subsection (10) was substituted by section 176 of the Finance Act 2006 (c. 25).
S.I. 1984/365 amended by S.I. 2004/1274