Entry into Force of the Convention between Japan and the U.K. for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains
September 12, 2006
- The Exchange of Notes for the entry into force of the Convention between the Governments of Japan and the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital Gains (signed in February 2 (Thu), 2006) took place in London on September 12 (Tue) between Mr. Yoshiji Nogami, Japanese Ambassador to the U.K., and Mr. Scott Wightman, Director of Global and Economic Issues Directorate of the Foreign and Commonwealth Office.
- The new Convention will enter into force on October 12 (Thu), 2006 and will be applicable in Japan;
- (1) Concerning taxes withheld at source, for amounts taxable on or after January 1, 2007.
- (2) Concerning income taxes not withheld at source and the enterprise tax, as regards income for any taxable year on or after January 1, 2007.
- Reflecting the close economic relations between Japan and the U.K., the new Convention contains extensive revisions of the existing Convention in content for the first time in 35 years, with a view to positively promoting mutual investments while taking measures to prevent fiscal evasion.
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