Panama Seeks Tax Agreements

Panama is en route to sign double taxing agreements with Spain, Italy, Holland and Mexico.

Friday, September 4, 2009

Frank De Lima, Panamanian Vice President, reported that "the Government will prioritize those countries with which Panama has strong trade and diplomatic relationships".

De Lima also acknowledged "...these agreements are one way of complying with OECD requirements, in order to remove Panama from tax haven 'graylists'", reports Prensa.com.

More on this topic

Panama Closes Double Taxation Agreement With France

June 2010

When signed on September, it will become the seventh double taxation agreement with OECD nations.

Prensa.com reported that the country has already signed and ratified the same agreement with Mexico, it plans to sign it with Barbados on June 21, and dates still must be set for doing the same with Italy, Belgium, Netherlands, Qatar and Spain”.

Panama and Netherlands Negotiate Double Taxation

April 2010

Starting today and until Wednesday, representatives from both countries will negotiate a Double Taxation Agreement in Panama City.

With these agreements, Panama seeks to be removed from OECD’s tax-haven gray-list. It has already closed similar treaties with Italy, Mexico, Belgium and Barbados.

Panama to Sign Tax Agreement with Mexico

February 2010

Both countries will sign a double taxation agreement in Cancún, Mexico.

The Mexican treaty will be the first out of 12 agreements that Panama intends to sign with OECD members (Organisation for Economic Co-operation and Development).

“Such requirement was set by OECD in order to remove the country from a ‘gray-list’ of countries considered tax havens”, reported Prensa Libre.

Panama Negotiates Double Taxation Agreement with Mexico

November 2009

Both countries will begin negotiations for a double taxation agreement on November 11th.

Panama's economy vice minister, Frank de Lima, who leads the negotiating team, has also contacted France, Germany, Australia, Japan, Holland, Switzerland, Norway, Island, Lichtenstein and England in order to negotiate double taxation agreements.

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