The Convention on Mutual Tax Assistance approved by the Assembly increases, from 30 to 107, the number of partner jurisdictions or nations with whom Panama can exchange information.
Thursday, February 16, 2017
From a statement issued by the Ministry of Economy and Finance:
With Panama's accession to the Convention on Mutual Administrative Assistance in Tax Matters (MAC), the country has increased the number of partner jurisdictions or nations with which it can perform an exchange of information from 30 to 107.This measures reiterates the commitment to international standards of fiscal transparency, which is essential for protecting the integrity of the country as a service center.
Publio Cortés, General Director of Revenue, said that the Convention "allows the exchange of tax information at the request of signatory jurisdictions, but does not in itself imply automatic exchange, but rather allows for bilateral negotiations through means of agreements between the competent authorities in order for automatic exchange to take place".
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With legislative approval of an Agreement on Mutual Administrative Assistance in Tax Matters, the country has avoided the risk of being included in the list of non-cooperating countries.
From a statement issued by the Ministry of Finance:
On November 12th the fourth edition of HidroIndustria will be held in which one of the exhibitors will be Germany, seeking new business partners in the country.
From a statement issued by the Guatemalan Exporters Association (-AGEXPORT-):
For the fourth consecutive year, the Laboratories Commission and the Multisectoral Platform and Commercial Information Promotion of AGEXPORT, will be celebrating on November 12, the Expoconferencias HidroIndustria 2015 event which seeks to publicize new technologies, provide training on the theme of water resources, and report on the commitments made in trade agreements and their impact on the productive sector.
A convention on the rice market and related technology will be held with companies in Central America and other regions from 27 to 29 May.
105 companies, from Latin America, the U.S., Canada, Europe and Africa are already registered for the event and it is expected that eventually there will be 600 members of the global rice industry taking part in the activity.
The auction that was scheduled for late 2008 has been stalled since then and will continue when the Ministry of Housing changes the way the land can be used and allows the construction of hotels and residential projects.
Marco Tulio Hernandez, coordinator of the Division for the Promotion and Sale of State Property, informed Prensa.com: "The intention of this office is to endow the land with usage that would allow the construction of hotels and residential projects, 'with the indispensable condition of keeping the convention center,’ something that has been demanded by the tourism and business industries in Panama. Hernández was not confident that the auction would be concluded before the end of the term of the current government, but he said that they are working 'as if there were going to be no change. If we do not do it on time, we would hand over any progress made to the next administration."
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