Panama Signs Tax Agreement with U.S.
On November 30th Panama will sign a tax agreement with the United States.
Monday, November 22, 2010
The signing is part of a strategy by the country to exclude Panama from the grey-list created by the Organization for Economic Cooperation and Development (OECD), informed the minister of Economy and Finance, Frank De Lima.
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.
A treaty signed with France will become the twelfth, enabling Panama to get off the list of tax havens.
The negotiations will bring to 12 the number of double taxation agreements it has, equalling the minimum required by the OECD.
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