Plain language law

New Zealand law explained for everyone

HD 16: Non-resident general insurers
or “Tax responsibilities for overseas insurance companies operating in New Zealand”

You could also call this:

“Rules for insurance agents paying premiums to Swiss residents”

When an insurance company makes money from a non-resident general insurer, there are special rules about paying premiums to people in Switzerland. If you’re an agent for the insurance company, and you pay the premium to an insurer or someone else who doesn’t have a business in New Zealand, you need to be careful. If the person you’re paying is considered to live in Switzerland for tax purposes, you have to tell the Commissioner about it. You need to give the Commissioner all the details about the payment. The Commissioner might tell you how they want you to share this information. It’s important to follow these rules to make sure everything is done correctly.

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Next up: HD 17B: Lloyd’s of London: agents for life insurance

or “Rules for handling taxes on Lloyd's of London life insurance premiums in New Zealand”

Home
Income Tax Act 2007
Taxation of certain entities
HD 17: Agent paying premiums to residents of Switzerland

Part H Taxation of certain entities
Agents

HD 17Agent paying premiums to residents of Switzerland

This section applies when—
an insurer derives income under section CR 3 (Income of non-resident general insurer); and
an agent of the insurer under section HD 16 pays the premium to an insurer or to some other person not carrying on a business in New Zealand through a fixed establishment in New Zealand; and
the insurer or other person is treated as being resident in Switzerland for the purposes of a double tax agreement between the government of New Zealand and the government of Switzerland.