The Japanese Ministry of Finance announced that the country will begin negotiations for Tax Convention with Austria. The Ministry also informed that it signed DTA with Slovenia and that Protocol Amending Tax Convention with India and new tax agreement with Germany will enter into force by the end of October 2016.
The government of Japan and the government of the Republic of Austria will initiate negotiations for the amendment of the current Tax Convention between the two countries. The first round of negotiations will take place from October 4 in Vienna.
The Convention is the first tax convention to be concluded between Japan and Slovenia based on the recognition of an increasingly close economic relationship between the two countries. The Convention clarifies the taxable scope in the two countries and will enable the tax authorities closer cooperation on tax matters.
The Protocol will enter into force on October 29, 2016, and will have effect on taxes in Japan beginning on or after January 1, 2017, and on taxes in India on or after April 1, 2017. The provisions concerning the exchange of information and the assistance in the collection of taxes shall have effect from October 29, 2016, without regard to the date on which the taxes are levied or the taxable year to which the taxes relate.
The Agreement will enter into force on October 28, 2016, and will be applicable on taxes in both countries beginning on or after January 1, 2017.
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