On 19 May 2020, the Japanese House of Representatives (lower house of parliament) approved the pending income tax treaty with Uruguay. The treaty was signed on 13 September 2019.
Under the treaty, dividends are taxable at a rate of 5% if the beneficial owner is a company that directly owns, throughout a 183-day period that includes the date on which entitlement to the dividends is determined, at least 10% of the voting power (if the payor is a resident of Japan) or the capital or voting pow…