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COLOMBIA AND JAPAN IN THE MIDDLE OF NEGOTIATIONS OF A DOUBLE TAX TREATY

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COLOMBIA AND JAPAN IN THE MIDDLE OF NEGOTIATIONS OF A DOUBLE TAX TREATY

International taxation

Colombia and Japan are in the final stage of the negotiation of a Double Tax Treaty

 

As well as the Double Tax Treaty signed with Canada, Korea, Spain, Italy, México, among others, Colombia is negotiating a double tax treaty with Japan. By means of the Treaty with Japan, double taxation situations would be solved under certain circumstances and withholding tax rates applicable to operations between both countries would be reduced.

The Treaty is not enforced yet, because it has to be signed by both states and the congress of each country has to ratify it. Therefore, the Treaty will be enforced once both jurisdictions have ratified it.

In this sense, once the Treaty has been subscribed, it will be waiting for the Congress to ratify it with the Double Tax Treaties with Italy, France, United Kingdom and United Arab Emirates.