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 protocol will enter into force once the ratification instruments are exchanged and will apply in respect of withholding taxes from 1 January of the year following its entry into force. For other taxes, the protocol will apply in New Zealand from 1 April next following its entry into force and in Switzerland from 1 January of the year following its entry into force.
However, the amendments to Article 7 (Business Profits) and Article 9 (Associated Enterprises) and the new arbitration provisions apply from the date of the protocol's entry into force, without regard to the taxable period to which the matter relates.