Entry into Force of Tax Agreement between the Government of Japan and the Government of Bermuda
July 2, 2010
- The Exchange of Notes for the entry into force of the Agreement between the Government of Japan and the Government of Bermuda 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 (signed on February 1(Mon), 2010) took place in London on July 2 (Fri) between the Embassy of Japan and the Government of Bermuda London Office. The Agreement will enter into force on August 1 (Sun), 2010.
- 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 Bermuda. This Agreement is the first international agreement focused on the exchange of tax information that Japan concludes, and it will be Japan’s practical contribution toward expanding the international information exchange network aimed at the prevention of cross-border fiscal evasion and tax avoidance.
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