Japan, Colombia agree to sign tax treaty

The governments of Japan and Colombia have agreed in principle on the terms of a tax treaty, Japan’s Ministry of Finance announced December 21.

The treaty, which is not yet in force, is designed to clarify taxation of cross-border activities involving the two nations, reduce double taxation, and prevent double non-taxation and tax avoidance, the ministry said.

This would be the first tax treaty between the two countries.

Japan announced its intent to commence tax treaty negotiations with Colombia on December 4.