Signing of the Tax Agreement between the Government of Japan and the Government of the Commonwealth of The Bahamas

January 28, 2011
Japanese

The Agreement between the Government of Japan and the Government of the Commonwealth of The Bahamas for the Exchange of Information for the Purpose of the Prevention of Fiscal Evasion and the Allocation of Rights of Taxation with respect to Income of Individuals (Tax Agreement between the Government of Japan and the Government of The Bahamas) was signed on 27 January (local time), 2010, in Nassau (The Bahamas) by Mr. Hiroshi Ymaguchi, Ambassador of Japan to The Commonwealth of The Bahamas, and the Hon. T. Brent Symonette, Deputy Prime Minister and Minister of Foreign Affairs of the Commonwealth of The Bahamas.
This Agreement provides for a detailed mechanism for the exchange of tax information, with a view to preventing cross-border fiscal evasion and tax avoidance, and also provides for tax exemption with respect to income of individuals such as pensions, for the purpose of promoting personal exchange between Japan and The Bahamas. Following the Tax Agreement with Bermuda which was signed and entered into force last year, this Agreement is the second international agreement focusing on the exchange of tax information that Japan signs, and it will be Japan’s practical contribution in expanding the international information exchange network aimed at preventing cross-border fiscal evasion and tax avoidance.
This Agreement will enter into force on the thirtieth day after the date of exchange of diplomatic notes indicating that this Agreement has been approved in accordance with the legal procedures of each Party (in the case of Japan, approval by the Diet will be necessary).

(* This is a provisional translation. The above date denotes the date of the issue of the original press release in Japanese.)

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