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Russia, Japan to sign new double tax agreement

Russia, Japan to sign new double tax agreement

MOSCOW: The governments of Japan and Russia on April 28 announced they have agreed the text of a new double tax agreement that would replace the 1986 pact between Japan and the former USSR.

In a statement following a visit by Japanese Prime Minister Shinzo Abe to Moscow, the Japanese Finance Ministry said: “This new Convention reinforces or introduces provisions for the purposes of clarifying the scope of taxation in the two countries, eliminating international double taxation, and preventing tax evasion and avoidance, and is expected to promote further mutual investments and economic exchanges between the two countries.” The text of the agreement has yet to be released. It will be signed after the necessary internal procedures have been completed by each of the two governments.