Signing of the Convention between Japan and the Portuguese Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income
December 20, 2011
- The Convention between Japan and the Portuguese Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income was signed on December 19, 2011, in Lisbon between Mr. Nobutaka Shinomiya, Ambassador of Japan to the Portuguese Republic and Mr. Paulo Nuncio, Secretary of State for Fiscal Affairs of the Portuguese Republic.
- Similar to the Conventions already concluded between Japan and other countries, this Convention adjusts the taxation rights between Japan and the Portuguese Republic to avoid international double taxation arising from economic and human exchanges. Reflecting the strengthened economic relations between Japan and the Portuguese Republic, and to promote mutual investments, this Convention clarifies the limit of withholding tax rates imposed on dividends, 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 fiscal evasion.
- 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 thirtieth day after the date of receipt of the latter notification.
- (*The foregoing is a provisional translation. The date indicated above denotes the date of the issue of the original press release in Japanese.)
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