Income Tax Act 2007

Taxation of certain entities - Agents

HD 17: Agent paying premiums to residents of Switzerland

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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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517426.

Topics:
Money and consumer rights > Taxes
Business > Industry rules

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HD 16: Non-resident general insurers, or

“Tax responsibilities for overseas insurance companies operating in New Zealand”


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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”

Part H Taxation of certain entities
Agents

HD 17Agent paying premiums to residents of Switzerland

  1. This section applies when—

  2. an insurer derives income under section CR 3 (Income of non-resident general insurer); and
    1. 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
      1. 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.
        1. The agent must disclose details of the payment of the premium to the Commissioner in the manner, if any, required by the Commissioner.

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