Panama seeks agreements with Singapore, Korea to avoid double taxation

2010-08-19

In a bid to be taken off the tax-haven gray list announced by the Organization for Economic Co-operation and Development (OECD), Panama is eagerly seeking talks with Singapore, Korea and the other major OECD member countries to sign agreements that avoid double taxation. According to an article in Panamanian newspaper La Prensa dated August 12, 2010, Panama would send a delegation to Singapore and South Korea on August 13 for such talks. If the talks go on as planned, Panama will be able to sign the tariff agreement with 12 OECD members as required, and be successfully taken off the grey list.