Treaty negotiations between France and Japan finalized

The French tax authorities announced in a recent Press Release that the competent authorities of France and Japan had reached an agreement on 26 June 2006 regarding a protocol substantially amending the France-Japan income tax treaty of 3 March 1995. According to the Press Release, the draft amending protocol, inter alia, provides for new reductions or exemptions in respect of the withholding tax on dividends, interest and royalties.