Date to double taxation agreement between Panama and Colombia is indefinite

noviembre 23, 2015 2:35 pm Publicado por 1.591 Comentarios

While September 30 was the deadline for an agreement on double taxation and control money laundering between Panama and Colombia, the government has notified the first country that term is indefinite.

According to information of the news agency ANPanamá “after spending over a month limit that project had to finish negotiating a double taxation agreement, negotiators from Panama and Colombia will make a new attempt next week.”

“ANPanamá Castillero said that the meeting be held in Panama City from November 30, which would be the seventh round of negotiations, but said it would not last.”

Colombia made within 60 additional days after October, however, Panama considers an indefinite term.

“Both countries have interest to finish as soon as possible, though it would be a mistake to put the times ahead of substances” Castillero to ANPanamá said.

According to the Panamanian negotiators are still differences, but during this time approaches were given, although they “opposed” positions on some issues.

Failure to reach an agreement both sides could leave the table and face the consequences.

In the case of Panama, probably the withdrawal of negotiations would lead to a list of tax haven Colombia and the application of the law of retaliation by Panamanian side.

The Panamanian government hired a consultant to explore the impact of being on the list of tax haven of Colombia and in accordance with Castillero both countries would be affected was determined, but the Panamanian side the main impact will be an increase in cost of banking transactions, both countries would be affected.

Sourge: http://confidencialcolombia.com/

 

Ernesto Chong de León, Ernesto Emilio Chong Coronado

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