Panama and Japan have agreed to begin negotiations towards the signing of a Double Tax Agreement, according to a statement from the Panama government.
At a meeting held with Naoki Minezaki, Senior Vice Minister of Economy and Finance of Japan, Panamanian representative Alberto Vallarino emphasized the need for such an agreement, to significantly increase trade between the two nations. He noted that increased economic activity, as a result of the agreement, could be further bolstered by the recent expansion of the Panama Canal.
In addition, Vallarino met with Izumi Takashima, Vice President of the Japanese Cooperation Agency, to discuss joint ventures of interest to the Panamanian government, such as waste management solutions and mass transit systems in Panama’s capital city.
A double tax agreement will provide legal certainty for businesses and individuals carrying out trade and investment between the two countries, facilitating increased economic activity by preventing incomes from being taxed twice.
.Tags: tax | business | double tax agreement (DTA) | Japan | Panama | Panama | Japan
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