Call to revise Belgian-Japanese tax treaty

10th November 2005, Comments 0 comments

10 November 2005, BRUSSELS — Belgian Prime Minister Guy Verhofstadt has proposed that Tokyo and Brussels revise a tax treaty to boost Japanese investment in Belgium. "I would like to revise the tax treaty, which has not been revised since it was established in 1968," Verhofstadt told Prime Minister Junichiro Koizumi, newspaper 'Japan Times' reported.

10 November 2005

BRUSSELS — Belgian Prime Minister Guy Verhofstadt has proposed that Tokyo and Brussels revise a tax treaty to boost Japanese investment in Belgium.
 
"I would like to revise the tax treaty, which has not been revised since it was established in 1968," Verhofstadt told Prime Minister Junichiro Koizumi, newspaper 'Japan Times' reported.

Despite the fact Verhofstadt did not elaborate further on which sections he hopes to revise, Koizumi said he will ask government officials to discuss the issue with their Belgian counterparts.

Verhofstadt made his proposal while on a two-day trip to Tokyo to explain Brussels' revised tax system to Japanese businesses, hoping to increase Japanese investment in Belgium.

The tax treaty is aimed at preventing the double taxation of Japanese and Belgian companies investing or doing business in the other nation.

The treaty also limits taxation on investments and gives exemptions for certain business activities, a Japanese Foreign Ministry official said.

Meanwhile, Verhofstadt also hopes direct flights will be set up between Japan and Belgium. Koizumi was open to the idea, but said arranging the flights was up to airlines.

[Copyright Expatica News 2005]

Subject: Belgian news

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