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).
A treaty signed with France will become the twelfth, enabling Panama to get off the list of tax havens.
This is the latest double taxation agreement signed by Panama; it has recently done the same with Belgium, Italy, Holland, Barbados, Spain and Mexico.
The country penned a double taxation agreement with Spain; it had already done so with Holland, Italy, Mexico, Belgium and Barbados.
Economy Minister Alberto Vallarino proposed negotiating a double taxation agreement with Singapore.
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