France to Sign Treaty with Panama and Remove it from Black List
The French government will sign a treaty with Panama this year to avoid double taxation, and will remove this Central American country from its black list of tax havens, announced French Presidential Aide Damian Loras said on Wednesday.
The information provided by Nicolas Sarkozyas aide for American Affairs after a meeting with President Ricardo Martinelli on Wednesday at the Executive Mansion. Loras stated that the ratification of the treaty could be concluded on December 21, so that Panama can be removed from the list.
Loras reiterated France’s stance that recognizes and appreciates Panama’s efforts on tax matters and the fight against tax evasion.
Meanwhile, Panamanian Foreign Minister Roberto Henriquez said the meeting with Loras was fruitful as all doubts about the French position in relation to his country and the tax issue were clarified.
He said the double taxation agreement is aimed at increasing the investment potential of France and Panama by establishing a legal framework to eliminate the sources of legal uncertainty.
Posted in Panama Real Estate