January 20, 2021 Peru-Japan income tax treaty will apply beginning January 1, 2022 All necessary procedures for the treaty's entry into force have been completed. On December 30, 2020, Peru's President ratified the Peru-Japan income tax treaty through Supreme Decree No. 060-2020-RE. On January 14, 2021, the Japanese Ministry of Foreign Affairs' confirmed that Japan received notification that Peru had completed, on December 30, 2020, all necessary internal procedures for the treaty's entry into force. Therefore, the following measures will apply: 1. Entry into force and effective dates: The treaty will enter into force on January 29, 2021 (the 30th day after the date in which both countries had completed their internal procedure for ratifying/approving the treaty). In Japan, the treaty applies beginning on or after January 1, 2022. In Peru, the treaty applies to income taxes paid, credited to an account or accounted as an expense on or after January 1, 2022. 2. Exchange of information: The treaty's exchange-of-information provisions generally apply beginning January 29, 2021. For provisions on assistance in collecting taxes, the date will be confirmed through an exchange of diplomatic notes from the Governments of both countries. ———————————————
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