Japan

Japan: Signs the Multilateral Convention to implement tax treaty related BEPS measures

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The Minister of State for Foreign Affairs, on 7 June 2017 in Paris on behalf of Japan, signed the Multilateral Agreement on the Implementation of Taxation Related Measures to Avoid Basic Erosion and Profit Shift.

The Ministry of Foreign Affairs of Japan said in a press release that the Convention intends to introduce the tax measures which form part of the measures developed under the BEPS project to prevent the basic erosion and the transfer of profits (BEPS) in the existing tax treaties between the Contracting Parties to the Convention. The agreement also enables the parties to the contract to implement the tax measures in order to simultaneously and efficiently prevent BEPS in respect of a large number of their existing tax treaties.

About 70 countries at all levels of development have signed this Multilateral Instrument (MLI) at the OECD Centre in the presence of Secretary-General OECD at the same time. A number of jurisdictions have also expressed their intention to sign the MLI as soon as possible and other jurisdictions are also actively working towards participation in the multilateral instrument.

Japan and Iceland agree on a DTA

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On 29 May 2017, the Japanese Ministry of Finance announced that the Government of Japan and the Government of Iceland have agreed in principle on the tax convention between Japan and Iceland.

This new agreement will be signed after the necessary internal procedures have been completed by each of the two governments. Thereafter, the new Convention will enter into force after the completion of the approval procedure in both countries.

Negotiations for DTA between Japan and Iceland

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The Government of Japan and the Government of the Republic of Iceland will initiate negotiations for a tax convention between the two countries.

The first round of negotiations will take place on May 17 in Tokyo. Further details of this treaty will be reported later.

Japan and Estonia have agreed on a DTA

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On May 15, 2017, the Japanese Ministry of Finance announced that the Government of Japan and the Government of the Republic of Estonia have agreed in principle on the tax convention between Japan and the Republic of Estonia.

This new agreement will be signed after the necessary internal procedures have been completed by each of the two governments. Thereafter, the new Convention will enter into force after the completion of the approval procedure in both countries.

Japan and Denmark have agreed on a new DTA

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On May 15, 2017, the Japanese Ministry of Finance announced that the two countries (Japan and Denmark) have agreed in principle on the new Convention replacing the convention between Japan and the Kingdom of Denmark for the avoidance of double taxation with respect to taxes on income which came into force in 1968.

This new agreement will be signed after the necessary internal procedures have been completed by each of the two governments. Thereafter, the new Convention will enter into force after the completion of the approval procedure in both countries.

Japan and Russia have agreed on a new DTA

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On 28 April 2017, Japan’s Ministry of Finance has announced that the two countries have agreed in principle to a new tax convention to replace the existing tax treaty between Japan and the Union of Soviet Socialist Republics, which entered into force in 1986.

Negotiations to update DTA between Japan and Spain

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Japan’s Ministry of Finance announced on 24 April 2017, that the governments of Japan and Spain will begin negotiations to amend their existing tax treaty (1974) for the Avoidance of Double Taxation with respect to Taxes on Income. The first round of negotiations will take place from April 25 in Tokyo.