Monday, July 29, 2013

UK-Panama Double Taxation Convention signed in London

Double Taxation Convention

A first-time comprehensive Double Taxation Convention between the UK and Panama was signed in London on 29 July 2013 by The Rt Hon William Hague MP, Secretary of State for Foreign and Commonwealth Affairs and H.E. Mr Fernando Núñez Fábrega, Foreign Minister of Panama.
The Convention generally follows the OECD Model Double Taxation Convention. Important features include exemption from withholding tax on certain dividends and low withholding rates on interest and royalties. The Convention also includes the latest OECD exchange of information article.
The Convention will enter into force once both countries have completed their legislative procedures.
HM Revenue & Customs
29 July 2013

UK-Panama Double Taxation Agreement 2013

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