Agreement in Principle on New Tax Convention between Japan and Turkmenistan

October 13, 2023

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The Government of Japan and the Government of Turkmenistan have reached a basic agreement on a new tax convention that will replace the current agreement (the Convention between the Government of Japan and the Government of the Union of Soviet Socialist Republics for the Avoidance of Double Taxation with respect to Taxes on Income) which has been in effect since 1986.

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This new convention strengthens or adds provisions aimed at clarifying the scope of taxation in both countries, eliminating international double taxation, and preventing tax evasion and avoidance. It is anticipated that the new agreement will further encourage mutual investment and economic exchange between Japan and Turkmenistan.

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The new convention will be officially signed once each government completes the necessary internal procedures. Following the signing, it will enter into force after both countries have completed their domestic procedures (in Japan, this requires approval by the Diet).

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It is important to note that this new convention will not impact the existing tax agreements between Japan and any other countries besides Turkmenistan.

 

Source: https://www.mofa.go.jp/press/release/press6e_000504.html