New Zealand - Turkey Tax Treaty

Once in effect, the tax treaty signed on 22 April 2010 between New Zealand and Turkey will provide for a 5% withholding tax on dividends paid to a company (other than a partnership) that holds directly at least 25% of the capital of the payer company (provided that such dividends are exempt from tax in the other State), and 15% in all other cases.

In the case of a New Zealand permanent establishment in Turkey, the remaining amount of profits, after having been taxed in accordance with the treaty's business profits article, will be subject to a 5% withholding tax if such profits are exempt from tax in New Zealand, and 15% in all other cases. Withholding tax on interest will be 10% if paid to a bank; otherwise, the tax rate will be 15%. The tax rate on royalties will be 10%.