Signing of the Convention between Japan and the State of Kuwait for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income
February 17, 2010
- The signing of the Convention between Japan and the State of Kuwait for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income took place between H.E. Mr. Masatoshi Muto, Ambassador Extraordinary and Plenipotentiary of Japan to the State of Kuwait, and Mr. Khalifa M. Hamada, Undersecretary for the Ministry of Finance, in Kuwait on February 17 (Wed).
- In a similar manner to the Conventions already concluded between Japan and other countries, this Convention adjusts the taxation rights between Japan and the State of Kuwait to avoid international double taxation arising from economic and human exchanges. Reflecting the strengthened economic relations between Japan and the State of Kuwait, the Convention clarifies the limit of withholding tax rates imposed on dividends, interest and royalties (copyrights, patents and others), to promote mutual investments. It is expected that the Convention will further strengthen the economic relations between the two countries.
- This Convention shall be approved in accordance with the legal procedures of each of the countries (in the case of Japan, approval by the Diet will be necessary.) and shall enter into force on the thirtieth day after the date of exchange of diplomatic notes indicating such approval.
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