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More Taxation Agreements in Panama’s Near Future

Article Summary:

President Martinelli continues to seek taxation agreements with other countries to further his ability to remove Panama from the list of tax havens. Panama has most recently signed agreements with five countries and seeks an agreement with UK.

Photo Credit: http: Eleconomista.net

Original Article Text From El Economista.net:

Panama Negotiate Agreements Not to be More Tax Haven

Written by The Economist / Panama
Friday, November 18, 2011 10:54

Panamanian President Ricardo Martinelli, stressed that his country is negotiating new double taxation agreements to advance the process that allows it to no longer be considered a tax haven.

These agreements have been closed with Ireland, Belgium, Israel, the Czech Republic and Bahrain, which could add some more in the future, since there are negotiations with several countries, particularly in the UK .

The aim is that it can move forward in the evaluation that is making the country the Global Forum on Fiscal Transparency, which your device now considered insufficient tax evasion, which has meant that Panama is one of tax havens G20summit earlier this month.

Panamanian President blamed the fact that Panama has emerged as a tax haven to the inaction of the previous administration to negotiate such bilateral agreements, reports the newspaper Panama America.

In the latest report by the Global Forum on 25 October, Panama appeared along with eight other jurisdictions (Antigua and Barbuda, Barbados, Brunei, Botswana, Seychelles, Trinidad and Tobago, Uruguay and Vanuatu) have not approved the first phase .

Link to Original Article:

From From El Economista.net via Google Translate

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