Hong Kong and New Zealand have signed a bilateral double taxation agreement, incorporating the latest Organisation for Economic Co-operation and Development international standards on the exchange of tax information.

Under the agreement, double taxation will be avoided in that New Zealand tax paid by companies will be allowed as credit against tax payable in Hong Kong in respect of income, subject to Hong Kong tax law provisions.

This is the seventeeth DTA concluded by Hong Kong with its trading partners. The agreement will enter into force after ratification procedures.