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| Panama, Cyprus Discuss Tax Agreement |
by Lorys Charalambous, Tax-News.com, Cyprus
Wednesday, September 29, 2010
Panama’s President, Ricardo Martinelli met with his Cypriot counterpart,
Demetris Christofias on September 22, to discuss improving economic
cooperation, including through the signing of a convention for the avoidance of
double taxation and fiscal evasion.
The meeting was held on the sidelines of the 65th session for the Assembly General
of the United Nations, with the Cypriot Vice President and Foreign Minister,
the country’s Minister for the Economy and Finance, and the Minister for
Social Development also present.
The two parties discussed several issues of bilateral interest, but primarily
the Panamanian government said discussions focused on methods of encouraging
increased trade and investment, in particular through a pact to assign the taxing
rights of both countries to ensure that investors' funds are not taxed twice
when operating between both countries. The two countries also agreed to the
future signing of an agreement for the abolition of visa requirements.
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