Panama to Negotiate Agreements with South Korea and Singapore

The negotiations will bring to 12 the number of double taxation agreements it has, equalling the minimum required by the OECD.

Friday, August 13, 2010

Panama's Vice-minister for the Economy, Frank De Lima, indicated thta the agreements will mean that by next year the country will no longer be on the gray list held by the Organisation for Economic Co-operation and Development (OECD).

"The minister said that the Panamanian negotiating team will depart on 13 August for South Korea and head to Singapore the following week, thereby completing the 12 double taxation agreements required," reports Prensa.com.

More on this topic

Panama Could Leave Gray List

June 2011

A treaty signed with France will become the twelfth, enabling Panama to get off the list of tax havens.

As part of measures being taken by the government so that Panama will no longer be considered a tax haven, a treaty will be signed with French representatives in Paris to avoid double taxation (DTT).

Panama and Qatar Ink Tax Agreement

May 2010

This is the latest double taxation agreement signed by Panama; it has recently done the same with Belgium, Italy, Holland, Barbados, Spain and Mexico.

Economy Minister Frank de Lima stated that in May they will negotiate two additional agreements with France and Luxembourg.

Panama and Spain Ink Tax Agreement

May 2010

The country penned a double taxation agreement with Spain; it had already done so with Holland, Italy, Mexico, Belgium and Barbados.

Economy vice minister Frank de Lima explained that the country had set the objective of signing 12 of these agreements in 2010, and that they have already achieved half of it.

Panama Wants Tax Agreement with Singapore

April 2010

Economy Minister Alberto Vallarino proposed negotiating a double taxation agreement with Singapore.

He talked with his Singaporean counterpart, Lim Hwee Hua, and explained the benefits it would bring to Singaporean companies operating in Panama.

“Hua assured that their technical team will study the possibility of such an agreement”, reported Panama América.

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