French Assembly Ratifies Tax Treaty with Panama

After being rejected by the Senate, the Assembly of France has definitively ratified the treaty to avoid double taxation.

Wednesday, December 21, 2011

After being rejected a second time in the Senate, the Assembly definitively ratified the treaty today, Wednesday 21 December.

"With the approval of the tax treaty France is expected to remove to Panama from its list of tax havens in January 2012. That was the promise made repeatedly by French authorities to the Government of Panama", states an article by newspaper La Prensa.



More on this topic

Panama to Negotiate New Double Taxation Treaties

January 2012

Before April 2012 the country will negotiate double taxation agreements with the UAE and Hungary.

The announcement was made by the Minister of Economy and Finance, Frank de Lima, during the opening of the new ordinary session of the Legislature.

"The head of the Ministry of Economy and Finance stressed the importance of the ratification by the French legislature of the double taxation agreement with Panama signed last December and its departure from the "gray list " collated by the Organization for Economic Cooperation and Development (OECD). He said that the move by France means that later this month, when France makes its list of countries with uncooperative tax policies, Panama should be left out of this category", reported Prensa.com.

French Senate Rejects Double Taxation Agreement with Panama

December 2011

In light of the decision by the Finance Committee of the French Senate, the Panamanian Presidency has issued a statement:

On the morning of Wednesday, December 14, the Government of Panama received a visit by Mr. Damien Loras, special envoy of President Nicolas Sarkozy, who confirmed France’s commitment to approving the Double Taxation Treaty with Panama in order to remove our country from the French list of countries not cooperating in the exchange of tax information.

Costa Rica Complies With OECD Requirements

July 2011

After signing with Australia, the country will have the 12 tax treaties required by the Organization for Economic Cooperation and Development (OECD).

On 1 July, the country will have twelve agreements to exchange tax information after signing an agreement with Australia, which will take place in Mexico with the participation of Costa Rican ambassador.

Panama to Negotiate Tax Agreement with Aruba

February 2011

The finance ministers of both countries began discussing a Double Taxation Agreement.

The Minister of Economy of Panama, Frank De Lima, said a Panamanian trade mission is to visit Aruba in August, headed by the Foreign Trade Vice Minister, José Domingo Arias. "We made recommendations on diversification of economic activities in the island, which was a follow up meeting we had with the Finance Minister in March of last year," he said.

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