Equities - Double Taxation Treaties concluded by Japan and currently in force
Note: Clearstream Banking provides these rates for information purposes only and does not guarantee that this information is correct, complete and accurate. Clearstream Banking does not assume liability for any damages, direct or indirect, that may arise from the reliance on or the use of this information. The rate as prescribed in the DTT assumes that the beneficial owner does not hold a substantial percentage of the share capital of the company paying the dividend. Different rates may apply for substantial holdings. Please refer to the actual DTT or your tax advisor for further information.
The standard rate of withholding tax on dividends is 15.315% before any refund.
Country | Rate prescribed | Tax refund |
Australia | 10 | 5.315 |
Austria | 10 | 5.315 |
Bangladesh | 15 | 0.315 |
Belarus | 15 | 0.315 |
Belgium | 10 | 5.315 |
Brazil | 12.5 | 2.815 |
Brunei | 10 | 5.315 |
Bulgaria | 15 | 0.315 |
Canada | 15 | 0.315 |
| Chile a | 0/15 | 15.315/0.315 |
China | 10 | 5.315 |
Colombia | 10 | 10.315 |
Croatia | 5 | 10.315 |
Czech Republic | 15 | 0.315 |
Denmark b | 0/15 | 15.315/0.315 |
Egypt | 15 | 0.315 |
| Estonia b | 0/10 | 15.315/5.315 |
Ecuador | 5 | 10.315 |
Finland | 15 | 0.315 |
France | 10 | 5.315 |
Georgia | 5 | 10.315 |
Germany c | 15/15.315 | 0.315/0 |
Hong Kong | 10 | 5.315 |
Hungary | 10 | 5.315 |
| Iceland b | 0/15 | 15.315/0.315 |
India | 10 | 5.315 |
Indonesia | 15 | 0.315 |
Ireland | 15 | 0.315 |
Israel | 15 | 0.315 |
Italy | 15 | 0.315 |
Jamaica | 10 | 5.315 |
Kazakhstan | 15 | 0.315 |
Kuwait | 10 | 5.315 |
Kyrgyz Republic | 15 | 0.315 |
| Latvia b | 0/10 d | 15.315/5.315 |
| Lithuania b | 0/10 d | 15.315/5.315 |
Luxembourg | 15 | 0.315 |
Malaysia | 15 | 0.315 |
Mexico | 15 | 0.315 |
Netherlands | 10 | 5.315 |
New Zealand | 15 | 0.315 |
Norway | 15 | 0.315 |
Pakistan | 10 | 5.315 |
Peru | 10 | 5.315 |
Philippines | 15 | 0.315 |
Poland | 10 | 5.315 |
Portugal | 10 | 5.315 |
Qatar | 10 | 5.315 |
Republic of Armenia | 15 | 0.315 |
Republic of Moldava | 15 | 0.315 |
Romania | 10 | 5.315 |
Russia | 10 | 5.315 |
Saudi Arabia | 10 | 5.315 |
Serbia | 10 | 5.315 |
Singapore | 15 | 0.315 |
Slovakia | 15 | 0.315 |
| Slovenia e | 5 /10 f | 10.315/5.315 |
South Africa | 15 | 0.315 |
South Korea | 15 | 0.315 |
Spain | 5 | 10.315 |
Sri Lanka | 20 | 0 |
Sultanate of Oman | 10 | 5.315 |
Sweden | 10 | 5.315 |
Switzerland | 10 | 5.315 |
Taiwan | 10 | 5.315 |
Tajikistan | 15 | 0.315 |
Thailand g | - | - |
Turkey | 15 | 0.315 |
Turkmenistan | 15 | 0.315 |
Ukraine | 15 | 0.315 |
United Arab Emirates h | 10 | 5.315 |
United Kingdom | 10 | 5.315 |
United States of America | 10 | 5.315 |
Uruguay | 10 | 5.315 |
Uzbekistan | 10 | 5.315 |
Vietnam | 10 | 5.315 |
Zambia | 0 | 15.315 |
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a. For Chile, the standard rate is 15%. Tax exemption is granted to eligible pension funds if the necessary documentation is submitted.
b. The 0% rate applies if dividends are paid by a company that is entitled to a deduction for dividends paid to its beneficiaries in computing its taxable income in Japan where the company paying the dividends is a resident (for example REITs).
c. Effective as from 1 January 2017. 15% is only applicable to dividends from Japanese Listed Equities and ETFs. Dividends from Japanese REITs are subject to the default tax rate (that is, 15.315%), the DTT cannot be invoked as a REIT is not a company which is entitled to a deduction for dividends paid to its beneficiaries in computing its taxable income (as per the DTT Article 4-(a)-(i)).
d. 0% if the beneficial owner is a person other than an individual.
e. The 5% rate applies if dividends are paid by a company that is entitled to a deduction for dividends paid to its beneficiaries in computing its taxable income in Japan where the company paying the dividends is a resident (for example REITs).
f. The 10% rate applies if dividends are paid by a company that is entitled to a deduction for dividends or is subject to tax at a reduced rate if it distributes its profits.
g. For Thailand, the rate prescribed by the DTT-Dividends is:
- 15% for a company holding at least 25% of the voting shares for more than six months prior to the record date, and dividend is paid by a corporation engaging in industrial business;
- 20% for a company holding at least 25% of the voting shares for more than six months prior to the record date.
No standard rate is available.
h. The following entities should be deemed as residents in UAE defined in Article 4, Paragraph 1 as at 24 December 2014. In other words, any other entities not listed below are not currently able to gain tax benefits under the DTT:
- Central Bank of the United Arab Emirates;
- Abu Dhabi Investment Authority;
- International Petroleum Investment Company;
- Abu Dhabi Investment Council;
- Investment Corporation of Dubai;
- Mubadala Development Company;
- Eligible pension funds established in the UAE.