India & Japan: First bilateral APA signed
The Central Board of Direct Taxes (CBDT) signed a bilateral Advance Pricing Agreement (APA) with a Japanese company on 19 December 2014. This is India’s first bilateral APA which has been signed for a period of 5 years. Moreover, CBDT was proud to
See MoreDTA between Qatar and Japan initialed
The Government of the State of Qatar and the Government of Japan have agreed in principle on the Agreement between the Government of the State of Qatar and the Government of Japan for the Avoidance of Double Taxation and the Prevention of Fiscal
See MoreHong Kong Exchanges Notes With Japan Regarding Exchange of Information
The Government of the Hong Kong Special Administrative Region (SAR) exchanged notes on 10 December 10 2014, with the Government of Japan regarding the Exchange of Information (EoI) Article in the double taxation agreement between the Hong Kong SAR
See MoreDTA between Japan and UAE
Japan and United Arab Emirates signed an Income Tax Treaty (2013) on 24 November 2014 and will be applicable from January 1, 2015. Details of the treaty will be reported
See MoreJapan Seeks Corporate Tax Cut In 2015
Japan's Minister of Economy, Trade and Industry has stated that his objective is to reduce the country's corporate income tax rate by at least 2.5% next year. Earlier this year it was agreed that a preliminary corporate tax rate cut will be included
See MoreUK-Japan: Protocol to existing treaty enters into force very soon
The existing Income Tax Treaty between Japan and the UK will enter into force on December 12, 2014 followed by an exchange of diplomatic note on November 12, 2014. The protocol was previously signed on December 17, 2013. It includes provisions
See MoreIndia: Simplifies immigration procedures for Japanese nationals
The Government of India has simplified the rules on the validity of residential permits and visa/residential permit extension procedures for Japanese nationals travelling to
See MoreJapan-Sweden Income Tax Protocol enters into force
Japan-Sweden Income Tax Protocol which was signed on 5 December 2013 has entered into force on 12 October 2014. The Protocol will have the following tax effect: With respect to taxes withheld at source, for amounts paid or credited on or
See MoreU.A.E-Japan Income Tax Treaty ratified
The Income Tax Treaty between Japan and United Arab Emirates has been ratified by way of Decree No. 70/2014. Further details of the treaty will be reported
See MoreChina: Termination of Anti-dumping Measures Applicable to Imports of Pyrocatechol originated in the EU
On August 25, 2009, the Ministry of Commerce issued Announcement No.53 of 2009, deciding to continue to impose anti-dumping measures against imports of pyrocatechol originated in the EU in accordance with Announcement No. 41 of 2003, Announcement 61
See MoreJapan: Details of the Japan and Oman DTT Agreement available Now
Japan and Oman Income Tax Treaty (2014) has been signed on 9 January 2014 and details of the treaty available now. The treaty generally follows the OECD Model (2010). The maximum rates of withholding tax are: 10% on dividends (5% if the
See MoreJapan: The second sales tax will rise from November 2015
Japanese Prime Minister is expected to announce by the end of this year whether the nation will go ahead with a second rise to its consumption tax rate, to 10% from November 2015. As Japan's economy contracted by 6.8% year-on-year during the
See MoreASEAN: Reviews ongoing negotiations of FTAs with China, Japan and S Korea
The Economic Ministers of ASEAN met with the representative of China, S Korea and Japan to discuss and review the ongoing negotiations to upgrade their respective ASEAN+1 trade treaties. ASEAN and China presented the progress made in implementing
See MoreUS imposes tariffs on Grain-Oriented Electrical Steel From Germany, Japan, and Poland
The International Trade Administration (ITA) of the US Department of Commerce (DOC) has issued its affirmative final determinations on July 17, in the antidumping duty (AD) investigations of imports of grain-oriented electrical steel (GOES) from
See MoreAustralia and Japan signed an agreement to promote economic relations
Australia and Japan signed an agreement to promote economic relations (EPA), in Canberra on 8 July 2014. The Australian Department of Foreign Affairs and Trade said that, “this is the most liberalizing bilateral trade agreement and if it is fully
See MoreJapan: Government approved the plan to cut corporate tax rate
Japans government approved the plan to cut corporate tax rate on June 24 which was among the highest in the world at above 35% to less than 30% over several years. Although decisions on how to offset revenue losses and other details were deferred,
See MoreOECD: BEPS project update with developments of Asian countries
In order to stop tax avoidance and evasion Asian countries are actively taking part with the Organization for Economic Cooperation and Development (OECD)’s plan. The OECD’s Action Plan is far reaching and will help support local Asian
See MoreJapan: Planning to introduce B2B e-commerce tax
The Japanese International Taxation Discussion Group has suggested following methods for pick up “Consumption Tax” which are: Submission of VAT reverses charge so that the local Japanese Company reports the acquisition and supply in its
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