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Japan Seeks Tax Agreements With Gulf States

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

08 November 2006


Japan is ready to launch negotiations with Kuwait and the United Arab Emirates towards the conclusion of separate bilateral tax treaties, its first such agreements with Gulf-based countries.

Tokyo has announced that negotiations with the UAE are due to be held from November 13 to 15, and talks with Kuwait are scheduled to commence on November 27 and will last until November 29.

Such agreements are designed to reduce exposure to double taxation of a company located in one country and doing business in the other.

Japan has signed tax treaties with 55 nations covering more than 80% of foreign direct investment, according to the Finance Ministry.

Japan is heavily dependent on oil imports from the Gulf region, with almost 28% of these imports originating in the UAE, second only to Saudi Arabia, which accounts for 29.5% of Japan's crude imports.


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