28/04/17

Russia, Japan Agree New Deal to End Double Taxation, Tax Evasion

Russia and Japan have agreed new taxation rules that will replace the obsolete decades-old convention and held curb tax dodging, according to the ministry, reports Sputnik.

"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," the statement said.

The ministry said the new document – in place of the 1986 agreement between Japan and the Soviet Union – will promote bilateral investment and economic exchanges. The convention will be signed after it completes approval procedures in both countries and gets the backing of their parliaments.