Lower NRWT rates: Chile and Mexico

New lower NRWT rates on dividends and royalty payments under New Zealand’s double tax agreements with Chile and Mexico have been announced by Revenue Minister Peter Dunne.

“The new reciprocal withholding tax rate on royalties arising in New Zealand and Chile is 5%, down from 10%.

For dividend payments arising in New Zealand and Mexico, the new withholding tax rate has been reduced from 15% to either 5% or zero, depending on the size of the investor’s shareholding in the company paying the dividend and certain other criteria.”

August 14th, 2011