Colombia puts Pressure on Panama Over Tax AgreementThe inclusion of Panama in the Colombian government's gray list could mean surcharges on capital repatriation by investors in the country.Friday, May 16, 2014
"If Panama is included on a (Colombia's) gray list, it will affect the Colombian investments that exist in Panama and which have a strong presence in banking and other industries, because they will pay a surcharge when they repatriate their profits," the outgoing Minister of Economy and Finance in Panama, Frank De Lima, said. Source: dinero.com ¿Busca soluciones de inteligencia comercial para su empresa?Panama's Response to Colombia's "Graylisting"October 2014 The Panamanian government is giving Colombia a period of 7 days to retract and remove the country from the "gray list" so that it can then negotiate on equal terms. Retaliation Against Colombia for "Graylisting"October 2014 A call has been made for measures such as raising tariffs, creating taxes on remittances and removing the exemption from tolls on Colombian boats. Colombia Includes Panama in Grey ListOctober 2014 Following the decision by the Colombian authorities, the costs of financial and tax transactions between the two countries will increase. Panama Could Go Back to OECD Gray ListMarch 2014 The Minister of Finance announced that the country did not pass the first stage of the review by the OECD because it has not implemented a law immobilizing bearer shares.
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