Recently, the Japanese tax authorities published the synthesized text of the Japanese tax treaties with Israel, New Zealand, Poland, Slovakia, Sweden and the United Kingdom (UK) as modified by the MLI. The synthesized text reflects the agreement reached between the relevant authorities of both Japan and these jurisdictions on how the treaties should be impacted by the MLI. The synthesized texts for other treaties (Australia and France) that will be amended by the MLI are expected shortly.
The OECD released, on 30 August 2018, the fourth batch of peer review reports relating to the implementation of the BEPS minimum standard under Action 14 on improving tax dispute resolution mechanisms. Japan was among the assessed jurisdictions in the fourth batch. Japan requested that the OECD also provide feedback concerning their adoption of the Action 14 best practices, and therefore, in addition to the peer review report, the OECD has released an accompanying best practices report.
