Japan's Ministry of Finance has announced the signing of a new income tax treaty with Turkmenistan on 16 December 2024. The new treaty replaces the 1986 tax treaty between Japan and the former Soviet Union as it applies in respect of Japan and Turkmenistan. Taxes Covered The treaty covers Japanese income tax, corporation tax, special income tax for reconstruction, local corporation tax, and local inhabitants tax. It covers Turkmen tax on profits or income of juridical persons and tax on income of individuals. Residence If a person other than an individual is considered resident in both Contracting States, the competent...