The days of double taxation between Croatia and Japan are over with the signing of an agreement today. The Croatian Minister of Finance, Zdravko Marić, and Kenji Yamada, the Japanese vice-minister for Foreign Affairs signed a bilateral taxation agreement in Zagreb.
This new agreement includes a number of tax breaks and improves conditions for trade relations between the two countries, commented the Minister of Finance.
"Japan is one of the model economies and opportunities for cooperation with Japan have increased since Croatia joined the European Union in 2013. We want to be recognised as not just a country for tourists, but also develop our economy in various sectors, and Japan's experience in that, and this agreement, can help," commented Zdravko Marić.
90 percent of Croatia’s exports to Japan is tuna from the Adriatic Sea with almost 3,000 tonnes exported in 2016. The new double taxation agreement now has to be ratified by the Croatian parliament.
However, there is also hope that Croatian wine could make an impact on the Japanese market, with the Japanese minister stating that “Croatia's wines could become increasingly recognised in Japan, and the number of Japanese companies doing business in Croatia would also increase.”