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Press Release

Japanese

July 22, 2020

Ministry of Finance

Tax Convention with Serbia was Signed

[Provisional translation]

1. On July 21 (Tuesday), the Government of Japan and the Government of the Republic of Serbia signed “Convention between Japan and the Republic of Serbia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance” in Belgrade. This Convention is the first tax convention to be concluded between Japan and the Republic of Serbia in light of the development of economic relationship between the two countries.

2. For the purpose of eliminating double taxation arising between the two countries, this Convention clarifies the scope of taxable income in the two countries. In addition, this Convention will enable the tax authorities of the two countries to consult each other on taxation not in accordance with the provisions of this Convention and to exchange information concerning tax matters. It is expected that, while eliminating double taxation and preventing international tax evasion and tax avoidance, this Convention promotes further mutual investments and economic exchanges between the two countries.
 
【Reference 1】 Next Steps
After the approval in accordance with the domestic procedures of the two countries (in Japan, approval by the Diet is necessary), this Convention will enter into force on the thirtieth day after the date of exchange of diplomatic notes indicating such approval and will have effect:

   (a) in Japan:
       (i) with respect to taxes levied on the basis of a taxable year, for taxes for any taxable years beginning on or after
            January 1 in the calendar year next following that in which this Convention enters into force; and
       (ii) with respect to taxes levied not on the basis of a taxable year, for taxes levied on or after January 1 in the
            calendar year next following that in which this Convention enters into force; and
   (b) in the Republic of Serbia:
       with respect to the taxes on income derived in each fiscal year beginning on or after January 1 in the calendar
       year next following that in which this Convention enters into force.

The provisions concerning the exchange of information will have effect from the date of entry into force of this Convention without regard to the date on which the taxes are levied or the taxable year to which the taxes relate.

【Reference 2】 Texts and Key Points of the Convention

・“Convention between Japan and the Republic of Serbia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance”(Japanese(PDF:203KB)English(PDF:62KB)

Key Points of Tax Convention with Serbia

Contact

Ministry of Finance :Tel 03(3581)4111
International Tax Policy Division, Tax Bureau (ext. 5007, 5335)