PANAMA NEWS:

 

 

Panama and Luxembourg conclude treaty negotiations

 

According to the Ministry of Economy and Finance, the negotiating teams of Panama and Luxembourg concluded the negotiations for a double taxation treaty in both countries yesterday.

Both teams, which met during the week, signed the treaties draft, which will have to be endorsed and approved by both countries´ national assemblies.

The agreement with Luxembourg is the ninth Panama signs, in search to exit the tax havens lists.

The Organization of Cooperation and Development (OCDE) will take the country out of the gray list, once it has agreed 12 treaties.

The authorities of the Ministry of Economy and Finance and those of the Panamanian negotiating team are expecting to reach that amount of treaties before the end of the year.

 

 

Source: www.prensa.com