Qatar inks economic pact with Panama

13 May 2010

(MENAFN) The governments of Panama and Qatar signed a Double Taxation Agreement to facilitate the exchange of financial information and avoid double taxation between the two countries, QNA reported.

The Panamanian Economy and Finance Ministry quoted its Vice Minister Frank de Lima, who is currently visiting Qatar, as saying the agreement improves the business climate in Panama.

Lima said the new agreement and other similar commitments will make the country more attractive to foreign companies.

He said Panama has on its agenda rounds of negotiations in May about the same issue with France and Luxembourg, in order to remove the country from the list of non-cooperating countries on tax issues, which was published by the Organization for Economic Cooperation and Development (OECD).

Panama, under the administration of current President Ricardo Martinelli, has signed similar tax agreements with Belgium, Italy, Holland, Barbados, Spain and Mexico.

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