Japan Engages BVI, Macau On Tax Data Sharing

by Mary Swire, Tax-News.com, Hong Kong

26 April 2013

The Japanese Ministry of Finance on April 25, 2013, announced that it had agreed, in principle, new Tax Information Exchange Agreements with the British Virgin Islands and Macau.

The agreements will provide a framework for the effective exchange of information in line with international standards, strengthening bilateral relations. Under the terms of the agreements, the BVI and Macau, and Japan will share relevant information, on request, where there is evidence of the perpetration of fiscal crime.

In making the announcement, the Ministry said the Japanese Government is determined to strengthen its tax information exchange network to contribute to efforts to tackle international tax evasion and abuse, and intends to conclude the agreements as quickly as possible. It said the agreements would be formally signed as soon as texts are finalized, and once the respective parties have completed their domestic ratification procedures, the agreements will enter into force.

TAGS: Finance | tax | Macau | Virgin Islands | agreements | standards | British Virgin Islands | Japan