Japan agreed with Russia to sign new tax Convention

Japan agreed with Russia to sign new tax Convention

TOKYO, APR 28 — RIA Novosti, Xenia Naka. The government of Japan has agreed with Russia about signing of the new Convention for avoiding double taxation, said in an official statement the foreign Ministry of Japan.

The new Convention should replace the current “Convention for avoidance of double taxation”, which was signed by the USSR and Japan in 1986.

The new Convention amplifies and clarifies the provisions defining the scope of taxation, avoiding double taxation, and to prevent the concealment from payment of taxes. As expected, the new Convention will promote investment and economic exchanges between the two streaminig Japan

The foreign Ministry of Japan noted that the Convention will be signed after passing the necessary procedures, and will enter into force after ratification by the parliaments of both countries.