The Government of Japan and the Government of the Russian Federation have agreed in principle on a new Tax Convention.
The previous Tax Convention (Convention between the Government of Japan and the Government of the Russian Federation for the Union of Soviet Socialist Republics for the Avoidance of Double Taxation with respect to Taxes on Income) entered into force in 1986.
The 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, Japanese Ministry of Foreign Affairs informed. New taxation rules will replace the obsolete decades-old convention and held curb tax dodging, according to the Russian ministry.
The new Convention will enter into force after the completion of the approval process on both countries.
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