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The Government of the Republic of Serbia

In the service of citizens

Serbia, Japan sign Agreement on avoidance of double taxation

Belgrade, 22 July 2020

Minister of Finance Sinisa Mali and Ambassador of Japan to Serbia Junichi Maruyama signed an Agreement on the avoidance of double taxation in relation to income taxes and prevention of tax evasion.

The signing of this agreement represents a significant contribution to the improvement of bilateral economic and financial cooperation between the two countries, because the proposed solutions eliminate double taxation of natural and legal persons - residents of the two countries.

The implementation of the agreement provides a legal precondition for more efficient business and competitiveness of Serbian companies in Japan and Japanese companies in Serbia.

Also, this agreement stimulates the investment of capital of Serbian residents in Japan and Japanese residents in Serbia. It ensures the cooperation of the tax administrations of the two countries in order to effectively implement the agreement and prevent tax evasion by their residents.

The achieved cooperation is a precondition for significant investments of Japanese investors in the Serbian economy, i.e. the creation of conditions for their participation in the privatisation 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, reads a statement by the Ministry of Finance.