Serbia and Japan recently signed “Agreement on Elimination of Double Taxation with respect to Income Taxes and Prevention of Tax Evasion and Avoidance” in Belgrade.
The Agreement applies to physical persons and legal entities – residents of both countries.
As stated in the official website of the Republic of Serbia:
”The agreement stimulates the investment of capital of residents of the Republic of Serbia in Japan and residents of Japan in the Republic of Serbia. It provides cooperation between the tax administrations of both countries in order to effectively implement the Agreement and prevent tax evasion by their residents.
Moreover, the achieved cooperation is a precondition for significant investments of Japanese investors in the economy of the Republic of Serbia, i.e. creation of conditions for their participation in the privatization process, but also for the use of appropriate financial instruments to encourage higher forms of bilateral economic cooperation.”
The beginning of the implementation of the Agreement is expected, after the ratification in the parliaments of both countries.
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