The Japanese Chargé (Yoshida) to the Secretary of State

No. 17

Sir: Referring to your note dated October 14, 1924, concerning Law No. 6, promulgated on July 17, 1924, I have the honor to make, under authorization of my Government, the following statement with regard to its interpretation.

It is the interpretation by the Japanese Government that the said Law would exempt an American citizen non-resident in Japan or a corporation organized in the United States from income-tax in respect to income consisting exclusively of earnings derived from the operation of a ship or ships documented under the laws of the United States, or of a third country which grants a reciprocal exemption to Japan, even if such citizen or corporation were engaged in business in Japan or had an office, a place of business or an agency in Japan.

The above interpretation places the law, it is considered, practically on the same basis of reciprocity as provided for in the Revenue Act of the United States.

I shall, therefore, be much obliged if you be good enough to refer the above to the proper authorities for their early consideration.

Accept [etc.]

Isaburo Yoshida