Colombia Takes Panama Off Tax Haven List

Colombia excluded Panama from its list of tax havens after agreeing to negotiations to avoid double taxation.

This wraps up two weeks of tenuous discussions, which began when Colombia included Panama in its list of tax havens, published on October 8, which implied penalties on transactions for Panamanian companies in Colombia. Panama threatened reciprocal measures and set a deadline for removing its name from the list.

Although a basic agreement has not been reached, the two countries have agreed to discuss tax information exchange mechanisms and bilateral trade issues.

See Also: Colombia Prolongs Tax on Colon Free Zone Goods

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