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.
.Tags: tax | investment | business | tax havens | international financial centres (IFC) | double tax agreement (DTA) | Cyprus | Panama | Panama | Cyprus
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