Japan-Oman: Sign DTA

09 January, 2014

Japan has signed a Double Taxation Agreement (DTAA) with Oman on 09 January 2014. The agreement provides a 10% withholding rate on dividends (5% with a 10% shareholding), interest and royalties in the source

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Treaty between New Zealand and Japan entered into force

30 December, 2013

The double tax agreement (DTA) signed between New Zealand and Japan on December 10, 2012, will become effective in New Zealand, for withholding taxes from January 1, 2014, and for income taxes for income years beginning on or after April 1, 2014.

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Protocol to treaty between Belgium and Japan

18 December, 2013

For the entry into force of the Protocol amending the Double Taxation Agreement (DTA) between Japan and Belgium, mutual notification procedures were completed on 27 November 2013. The Protocol will enter into force on December 27, and in the case of

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Japan – Signing of the Protocol Amending Tax Convention with the United Kingdom

17 December, 2013

Japan and the United Kingdom Signing of the Protocol Amending Tax Convention with the United Kingdom on 17 December 2013  which amending the current income tax treaty between the two countries. Before it enters into force the Protocol must be

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Japan – Tax reform proposals for 2014

12 December, 2013

Recently, Governments of Japan agreed on “outline” of tax reform proposals for 2014. On 12 December 2013 among the tax measures in the tax reform plan affecting corporations are provisions that would: • Decrease the current corporate tax rate

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Japan – Early repeal of special reconstruction corporation tax

09 December, 2013

The Japanese government has announced an economic stimulus package that includes a statement that “special reconstruction corporation tax (i.e., a 10% additional tax imposed on corporation tax liability) would be repealed a year earlier than

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Japan: Amendments of Tax Treaty Protocol with Sweden has been Signed

05 December, 2013

It has been published on 5 December 2013 that the governments of Japan and Sweden have signed a Protocol amending the current tax treaty between the two countries. The main amendments are as follows: ・Expansion of the scope of exemption of taxes

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Japan: tax reform outline announced

18 November, 2013

The Japanese government has officially decided to increase the rate of consumption tax from the current 5% to 8% with effect from 1 April 2014. It has also delivered a five-trillion yen (US$50B) economic stimulus policy that aims to alleviate

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Japan: Changes to consumption tax and corporate income tax

03 November, 2013

The Japanese government officially announced on 1st October 2013 its plan to modify “consumption tax” and “corporate income tax”.  The highlights of the plan are summarized below: Consumption tax: In the period between 1 April 2014 and 30

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OECD: Welcomes Japanese tax increase

22 October, 2013

Recently, the Secretary General of the Organization for Economic Cooperation and Development (OECD) has welcomed the announcement by Prime Minister on 7 October 2013 that,  the nation will increase its consumption tax from its current 5% levy to 8%

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Japan: Published Fiscal Incentive Package

22 October, 2013

Japanese Prime Minister has confirmed on 4 October 2013 that, the Government is to provide a fiscal stimulus package to counteract the declining effects of a 3 percent consumption tax rate rise due next year. He also disclosed on 1st   October

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Japan: Convention and protocol on Mutual Administrative Assistance in Tax Matters enters into force

22 October, 2013

The multilateral Convention on Mutual Administrative Assistance in Tax Matters,  as amended by the 2010 protocol on 1st October 2013 which entered into force in respect of Japan. The Convention and the amending protocol generally apply from 1

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DTA between New Zealand and Japan Boosts Trade

07 October, 2013

The New Zealand Revenue Minister has exchanged diplomatic notes for tax treaty with Japan for reduces taxobstruction to the cross-border trade and investment. This reconsidered agreement will help the tax authorities recognize and prevent tax

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 Japan: Planning to relax the Corporate Tax Relief Measures

19 September, 2013

Japan’s Prime Minister has requested that his Government should take account of tax incentives for the corporate part along with relax the economic impact if he adopts to proceed with the consumption tax hike due in April next year. It is also

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TIEA between Japan and Guernsey entered into force

01 August, 2013

The mutual ratification procedures  were completed for entry into force of the “Agreement between the Government of Japan and the Government of Guernsey for the Exchange of Information relating to Tax Matters and the Avoidance of Double Taxation

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Japan: Changes in customs Valuation regulations

25 July, 2013

The customs valuation regulation has been changed in Japan. The valuation is based on the transaction value in line with World Trade Organization (WTO) rules but the change in the regulations clarifies the issue of which particular transaction is to

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Treaty between Japan and Portugal enters into force

11 July, 2013

The governments of Japan and the Portuguese Republic signed an income tax treaty in December 2011. The mutual notifications of the completion of the necessary domestic procedures were completed on 28th June 2013 and in accordance with Article 28 of

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Japan: 2013 tax reform bill has been passed

17 April, 2013

Japan’s 2013 tax reform bill passed on 29 March 2013 and the key changes are related to corporate taxation. They include the introduction of a tax credit for increased salaries paid to employees; the introduction of a tax credit / special

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