October 2, 2020 Peru-Japan double tax treaty is sent to Peruvian Congress for approval Taxpayers should monitor the progress of the double tax treaty in Congress as the treaty would offer reduced tax rates and tax exemptions for certain taxpayers once it is effective. On September 22, 2020, Peru's Ministry of Foreign Affairs issued Supreme Resolution 091-2020-RE sending the double tax treaty between Peru and Japan and its protocol to the Peruvian Congress for approval. For more information about the treaty, see Tax Alert 2019-2077. Peru and Japan signed the double tax treaty on November 18, 2019. The double tax treaty will enter into force on the 30th day after the date of receipt of the last notification confirming internal procedures have been completed by both governments. The treaty will be effective on or after January 1 of the calendar year following the year in which the treaty enters into force. Approval by the Peruvian Congress will complete the internal procedure for Peru. ———————————————
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