Protocol to treaty between New Zealand and Philippines enters into force and details

An amending protocol to the income tax treaty of 29 April 1980 between New Zealand and the Philippines, signed on 21 February 2002, entered into force on 2 October 2008. The protocol generally applies from 1 December 2008.

The most significant changes are summarized below.

The maximum rates of withholding tax are amended as follows:

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-		15% on dividends;