The Deputy Minister of National Economy and Finance Christos Dimas spoke today about an Agreement with mutual economic, tax, development and investment benefits, which includes a wide network of cooperation between Greece and Japan, during his presentation to the Plenary of the Parliament.

During his introduction, he emphasized that the short-term and long-term goals set through the Convention are particularly important and critical for the consolidation of a stable and fair tax system, as well as for the continuous strengthening of the pro-investment climate and environment for our country.

The phenomenon of double taxation exists when foreign source income acquired by a resident of a state, natural or legal person, is taxed both in the state of residence or headquarters, and in the foreign state of source. Moreover, it exists even when the tax authorities of more than one country include the same income, from the same time period, in the taxable material.

The ineffective avoidance of double taxation constitutes an obstacle to international economic and investment relations, in particular to the exchange of goods and services and the movement of capital and persons.

The Convention essentially aims to encourage the efficiency of economic and trade relations with Japan by improving security for taxpayers in their international transactions.

Fiscal stability is always an important advantage for residents of each of the contracting states who wish to make investments in the other state and, encouraging the effectiveness of our economic and trade relations, also entails long-term benefits for the economic development of the country.

The Deputy Minister of National Economy and Finance Christos Dimas said: “Our friendship and cooperation with Japan is an excellent example of how 2 countries, despite the geographical distance that separates them, have the ability to develop strong ties between them in many different ways levels, such as the economy, new technologies, culture and education.

To further deepen and strengthen our strategic relationship, we today ratified the Convention that regulates critical legal, tax and other related issues. Our goal is to lead our countries to a relationship that has mutual development, investment and economic benefit.”