• Panama - Israel
    Tax Treaty Enters Into Force

    16-07-2014

    The Income Tax Treaty between Panama and Israel, signed on 8 November 2012, has entered into force and its provisions will come into effect on 1 January 2015.

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

    • Dividends:
      • 5% if the beneficial owner of the dividends is a pension scheme.
      • 15% in all other cases.

    • Interest:
      • 0% if the beneficial owner of the interest is a pension scheme.
      • 0% if the beneficial owner of the interest is a resident of the other Contracting State and such interest relates to corporate bonds traded on a Stock Exchange in the first-mentioned State and which were issued by a company which is a resident of that State.
      • 0% if the beneficial owner of the interest is a Contracting State, the Central Bank of a Contracting State, any of its political subdivisions or local authorities.
      • 0% if the interest is paid by the Government of that Contracting State, a political subdivision, a local authority or the Central Bank thereof.
      • 15% in all other cases.

    • Royalties: 15%.
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