• Ireland - Panama
    Tax Treaty Approved by Panama


    On 18 September 2012, Panama approved the Ireland - Panama Income Tax Treaty.

    In accordance with the new treaty the following withholding taxes will apply:

    • Dividends: 5% withholding tax on dividends.

    • Interest:
      • 0% if the interest is paid (i) in relation to the sale on credit of merchandise or equipment to an enterprise of a Contracting State, or (ii) to a pension fund established in the other Contracting State to provide benefits under pension arrangements recognized for tax purposes in that other Contracting State.
      • 5% in all other cases.

    • Royalties: 5% withholding tax on royalties.

    Provided that ratification instruments between the two countries are exchanged within 2012 then the new treaty is expected to apply from 01/01/2013.

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