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Signing of the Convention between the Government of Japan and the Government of the Kingdom of Saudi Arabia for the Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income

November 15, 2010
Japanese

1. "The Convention between the Government of Japan and the Government of the Kingdom of Saudi Arabia for the Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income" was signed on November 15, 2010, in Tokyo between Mr. Seiji Maehara, Minister for Foreign Affairs of Japan, and His Excellency Dr. Ibrahim Al-Assaf, Minister of Finance of the Kingdom of Saudi Arabia.
   
   
2. Similar to the Conventions already concluded between Japan and other countries, this Convention adjusts the double taxation between Japan and the Kingdom of Saudi Arabia arising from human and economic exchanges. Reflecting the strengthened economic relations between Japan and the Kingdom of Saudi Arabia, and to promote mutual investments, this Convention clarifies the limit of withholding tax rates imposed on dividends, income from debt-claims (interest) and royalties (copy rights, patents and others), as well as prescribes the provisions for the exchange of information based on the international standard regarding taxes. It is expected that this Convention will further strengthen the economic relations between the two countries, and contribute to the prevention of tax evasion.
   
   
3. Each of the countries shall send to the other the notification confirming the completion of its internal procedures necessary for the entry into force of the Convention (in the case of Japan, the approval of the National Diet is required). This Convention shall enter into force on the first day of the second month following the date of receipt of the latter notification.

Related Information (Japan-Saudi Arabia Relations)