Agreement between the Government of New Zealand and the Government of the Isle of Man on the exchange of information with respect to taxes
Whereas New Zealand and the Isle of Man (
“the Parties”) recognise that present legislation already provides for co-operation and the exchange of information in criminal tax matters;
Whereas the Parties have long been active in international efforts in the fight against financial and other crimes, including the targeting of terrorist financing;
Whereas it is acknowledged that the Isle of Man under the terms of its Entrustment from the United Kingdom has the right to negotiate, conclude, perform and, subject to the terms of this Agreement, terminate a tax information exchange agreement with New Zealand;
Whereas the Isle of Man on the 13th December 2000 entered into a political commitment to the OECD’s principles of effective exchange of information and actively participated in the drafting of the Organisation for Economic Co-operation and Development Model Agreement on Exchange of Information on Tax Matters;
Whereas the Parties wish to enhance and facilitate the terms and conditions governing the exchange of information with respect to taxes;
Now, therefore, the Parties have agreed to conclude the following Agreement, which contains obligations on the part of the Parties only:
Object and scope of this Agreement
The Parties shall provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the domestic laws of the Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment, enforcement, recovery or collection of such taxes, with respect to persons liable to such taxes, or to the investigation or prosecution of tax matters in relation to such persons. Information shall be exchanged in accordance with the provisions of this Agreement and shall be treated as confidential in the manner provided in Article 8. The rights and safeguards secured to persons by the laws or administrative practice of the Requested Party remain applicable. The Requested Party shall use its best endeavours to ensure that the effective exchange of information is not unduly prevented or delayed.
The Requested Party is not obligated to provide information which is neither held by its authorities nor in the possession of or obtainable by persons who are within its territorial jurisdiction.
2 This Agreement shall also apply to any identical or substantially similar taxes imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes. This Agreement shall also apply to such other taxes as may be agreed in an exchange of letters between the Parties. The competent authorities of the Parties shall notify each other of any substantial changes to the taxation and related information gathering measures covered by this Agreement.
2 As regards the application of this Agreement at any time by a Party, any term not defined therein shall, unless the context otherwise requires, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.
Exchange of information upon request
2 If the information in the possession of the competent authority of the Requested Party is not sufficient to enable it to comply with the request for information, that Party shall use all relevant information gathering measures necessary to provide the Requesting Party with the information requested, notwithstanding that the Requested Party may not need such information for its own tax purposes.
3 If specifically requested by the competent authority of the Requesting Party, the competent authority of the Requested Party shall provide information under this Article, to the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of original records.
Each Party shall ensure that it has the authority, for the purposes referred to in Article 1, to obtain and provide, through its competent authority and upon request:
information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity;
(i) information regarding the legal and beneficial ownership of companies, partnerships, foundations,
“Anstalten” and other persons, and within the constraints of Article 2 any other persons in an ownership chain, including in the case of collective investment schemes, information on shares, units and other interests;
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7 The competent authority of the Requested Party shall acknowledge receipt of the request to the competent authority of the Requesting Party within 60 days of receiving the request, advise if there are any unexpected delays in obtaining the requested information within 90 days of receiving the request, and shall use its best endeavours to forward the requested information to the Requesting Party with the least possible delay.
Tax examinations abroad
1 The Requested Party may, to the extent permitted under its domestic laws, allow representatives of the competent authority of the Requesting Party to enter the territory of the Requested Party to interview individuals and examine records with the written consent of the persons concerned. The competent authority of the Requesting Party shall notify the competent authority of the Requested Party of the time and place of the meeting with the individuals concerned.
3 If the request referred to in paragraph 2 is acceded to, the competent authority of the Requested Party conducting the examination shall, as soon as possible, notify the competent authority of the Requesting Party about the time and place of the examination, the authority or official designated to carry out the examination and the procedures and conditions required by the Requested Party for the conduct of the examination. All decisions with respect to the conduct of the tax examination shall be made by the Requested Party conducting the examination.
Possibility of declining a request
2 The provisions of this Agreement shall not impose on a Party the obligation to provide information subject to legal privilege or to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade process. Notwithstanding the foregoing, information of the type referred to in Article 5, paragraph 4 shall not be treated as such a secret or trade process merely because it meets the criteria in that paragraph.
5 The Requested Party may decline a request for information if the information is requested by the Requesting Party to administer or enforce a provision of the tax law of the Requesting Party, or any requirement connected therewith, which discriminates against a national of the Requested Party as compared with a national of the Requesting Party in the same circumstances.
1 All information received by the competent authorities of the Parties shall be kept confidential. Such information may be disclosed only to persons or authorities (including courts and administrative bodies) in the jurisdiction of the Requesting Party concerned with the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes covered by this Agreement. Such persons or authorities shall use such information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The information may not be disclosed to any other person or entity or authority without the express written consent of the competent authority of the Requested Party.
The incidence of costs incurred in providing assistance shall be agreed by the competent authorities of the Parties.
The Parties shall enact any legislation necessary to comply with, and give effect to, the terms of this Agreement.
Mutual agreement procedure
Entry into force