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The United States and Japan have agreed to open formal negotiations with respect to a new bilateral income tax treaty. The two governments are in the process of scheduling the first round of formal negotiations, with a view to holding them in October, 2001, in Tokyo. The new treaty would replace the treaty currently in force between the two countries, which has been in effect since 1972. The two Governments have decided that the current treaty needs to be revised to take into account significant developments in the tax treaty policies and domestic tax systems of both countries since 1972.
The Treasury Department invites written comments from the public regarding the upcoming negotiations. Comments on the proposed treaty revision should be sent to Barbara M. Angus, International Tax Counsel, Room 1000 Main Treasury, Washington, DC 20220. Comments may also be sent by fax to (202) 622-0646.