The Netherlands and Japan sign new tax treaty in Tokyo
On August 25, 2010, the new tax treaty between the Netherlands and Japan was signed in Tokyo, marking the next step in the enforcement of the treaty.
Reciprocal advantages for Japan and The Netherlands
The new tax treaty will reduce the rates of withholding taxes on dividends, interest and royalties. For companies from the Netherlands, this makes it more attractive to do business in Japan; for Japanese companies it will be more interesting to invest in the Netherlands.
The official signing follows the substantive agreement achieved in 2009. The ratification of the 2009 agreement was signed in Toyko by the State Secretary for Foreign Affairs, Mr. Koichi Takemasa from Japan and Mr. Philip de Heer, Dutch Ambassador to Japan.
The new tax treaty will be presented to parliament for discussion in both the Netherlands and Japan. Parliamentary discussions are expected to run into 2011 and the treaty will come into force sometime in 2012.
Strengthening trade relations
Dutch Minister of Finance, Mr. Jan Kees de Jager, is enthusiastic about the new tax treaty. "Japan has been an important trading partner for the Netherlands for centuries. This treaty with low rates will encourage mutual investments and thus further strengthen the bilateral trade relations. Besides, the new treaty stipulates that should both countries not be able to resolve possible disputes on double taxation issues, an independent committee will give a decisive answer in an arbitration procedure. This is a first for the Japanese."
Major foreign investor in Amsterdam Area
Japan has been the second largest foreign investor in the Amsterdam Metropolitan Area, following the U.S. For many years, the competitive tax regime and strategic location has attracted Japanese firms. Amsterdam has the second largest Japanese community in Europe and 370 Japanese firms are operating in the area, creating an estimated 100,000 jobs.
Second largest Japanese community in Europe
It is not surprising that the Amsterdam Area is home to the second largest Japanese community in Europe and that this community continues to grow.
Some specialised medical care community resources for the Japanese include:
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regular medical check-up service by Japanese doctors in the Amstelland hospital
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Japan Desk at the Amstelland Hospital,
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Japanese dentist
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Highly ranked hospitals in the area such as the VU University Medical Center and the Academic Medical Centre (AMC) providing state-of-the-art heath care.
Members of the Japanese community in the Amsterdam Area can rely on a highly-specialised group of commercial services specifically targeted to their needs. These include schools and restaurants, which reflect the educational and culinary heritage of Japan, and Japanese-speaking doctors and dentists. The local library has a selection of Japanese literature and there is a Japanese-speaking fishmonger, who caters to the tastes of his fellow countrymen.
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