On 8 August 2019, officials from New Zealand and Switzerland signed an amending protocol to the 1980 income tax treaty between the two countries. The protocol includes the following changes:
- The preamble is replaced in line with BEPS standards;
- A new paragraph 7 is added to Article 7 (Business Profits), which provides that a Contracting State shall make no adjustment to the profits that are attributable to a permanent establishment of an enterprise of one of the Contracting States after 5 ye…