Japan and Belgium agree to terms of new tax treaty

Japan and Belgium have agreed to the terms of new tax treaty, Japan’s Ministry of Finance announced May 10.

The agreement, which is not yet signed, would replace the parties’ 1970 tax treaty, introducing a new arbitration provision and lowering withholding taxes on dividends, interest, and royalties.

The ministry did not specify the agreed-to withholding tax rates.

The treaty also introduces an article on assistance in the collection of taxes, the ministry said.