Cabinet Approves Double Taxation Agreement Number 14

The Cabinet Council is supporting a bill to approve an Agreement between the Republic of Panama and the Czech Republic for the avoidance of double taxation and to prevent tax evasion with respect to taxes on income and its protocol.

Wednesday, July 25, 2012

From a press release from the Presidency of Panama:

Cabinet approves agreement for double taxation and preventing tax evasion number 14

The Cabinet Council is supporting a project to approve an agreement between the Republic of Panama and the Czech Republic for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and its protocol.

The initiative, launched by Minister for Foreign Affairs,
Francisco Alvarez de Soto, becomes the fourteenth such agreement number the administration of Ricardo Martinelli supports, having the aim of supplementing the government policies that promote national defense, strengthening and further development of its international platform of services.
Alvarez de Soto explained in reference to the Convention, that it aims to avoid double taxation and prevent fiscal evasion with respect to taxes on income, and will apply to residents of one or both Contracting States which will, in turn, facilitate the exchange of goods and service.



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Covenant on Tax Information Between Panama and Israel

February 2013

The National Assembly has approved on its third reading an agreement with the State of Israel, to avoid double taxation and prevent fiscal evasion with respect to taxes on income.

A statement from the National Assembly of Panama reads:

Third debate held on agreements to avoid double taxation and tax evasion

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The governments of Panama and Israel have signed a treaty to avoid double taxation.

A statement from the Ministry of Foreign Affairs reads:

Panama and Israel sign Treaty to Avoid Double Taxation

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The Deputy Foreign Minister, Francisco Alvarez de Soto, who is on an official visit to the State of Israel, emphasized that holding the first session of political consultations and the signing of a treaty to avoid double taxation, represent relevant bilateral achievements.

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After signing today a fiscal information convention with France, Panama has completed the 12 fiscal agreements required by the Organization for Economic Cooperation and Development (OECD) in order to exclude Panama from the list of tax havens.

A press release from the Ministry of Foreign Affairs of Panama states:

Panama and South Korea Sign Tax Agreement

October 2010

The country completed 9 of 12 agreements required by the OECD to remove it from the tax haven gray-list.

The president, Ricardo Martinelli and his counterpart Lee Myung-bak took part as honorary witnesses to the signing of the Treaty for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to income taxes between the two countries.

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