The Ministry of Finance of Japan had agreed on the new Tax Information Exchange Agreements with the British Virgin Islands and Macau, which will provide for the effective exchange of information in compliance with international standards, and for strengthening relations between the countries.
Under the Tax Information Exchange Agreements, the British Virgin Islands and Macau, and Japan from the other side, will share relevant information on request, when there is evidence of any kind of fiscal crime.
The Japanese Ministry of Finance said that the government is determined to strengthen its tax information exchange network, to contribute to efforts to tackle international tax evasion and abuse.
The Japanese government intends to conclude the agreements with the BVI and Macau as soon as possible. They will be formally signed after the texts are finalized, and they will enter into force, once the countries have completed their domestic ratification procedures.