Protocol to Tax Treaty between New Zealand and Switzerland has Entered into Force

The protocol to the 1980 income tax treaty between New Zealand and Switzerland entered into force on 10 December 2020. The protocol, signed 8 August 2019, is the first to amend the treaty and 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 …