Signing of the Protocol amending the Convention between Japan and Switzerland for the Avoidance of Double Taxation with respect to Taxes on Income
May 21, 2010
- “The Protocol amending the Convention between Japan and Switzerland for the Avoidance of Double Taxation with respect to Taxes on Income” (the Amending Protocol) was signed on 21 May, 2010, in Bern (Switzerland) between His Excellency Mr. Ichiro Komatsu, Ambassador Extraordinary and Plenipotentiary of Japan to Switzerland and His Excellency Mr.Hans-Rudolf Merz, Head of the Federal Department of Finance.
- The Amending Protocol partially amends the content of the current Convention. After the entry into force of the Amending Protocol, the effective exchange of information based on the international standard regarding taxes between the tax authorities of both countries will be operational, and is expected to contribute to the prevention of international tax evasion.
- Further, taxation on the investment income (dividend, interest, royalty) in the invested country will be lessened or exempted, and it is expected to contribute to the enlargement of economic activities including investment between the two countries.
- The Amending Protocol shall be approved in accordance with the legal procedures of each of the countries and shall enter into force on the thirtieth day after the date of exchange of diplomatic notes indicating such approval.
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