Press Releases
Entry into force of the Tax Convention between Japan and Colombia
August 8, 2022
On August 5, Mr. TAKASUGI Masahiro, Ambassador of Japan in the Republic of Colombia, and H. E. Mr. Francisco Javier Echeverri, Vice Minister of Foreign Affairs of the Republic of Colombia, exchanged diplomatic notes for the entry into force of the Convention between Japan and the Republic of Colombia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (signed on December 19, 2018) in Bogota, Colombia.
- The Convention, therefore, will enter into force on September 4, 2022 (the thirtieth day after the date of exchange of diplomatic notes) and will have effect:
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(a) in Japan:
(i) with respect to taxes levied on the basis of a taxable year, for taxes for any taxable years beginning on or after January 1, 2023; and
(ii) with respect to taxes levied not on the basis of a taxable year, for taxes levied on or after January 1, 2023; and - (b) in the Republic of Colombia:
(i) with respect to taxes withheld at source, for amounts paid or credited on or after January 1, 2023; and
(ii) with respect to all other taxes, for taxable years beginning on or after January 1, 2023
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(a) in Japan:
- The provisions concerning the exchange of information and the assistance in the collection of taxes will have effect from September 4, 2022 without regard to the date on which the taxes are levied or the taxable year to which the taxes relate.
- It is expected that, while eliminating double taxation and preventing international tax evasion and tax avoidance, the Convention promotes further mutual investments and economic exchanges between the two countries.
