• Panama - Portugal
    Tax Treaty Enters Into Force

    17-08-2012

    The Panama - Portugal Income Tax Treaty entered into force on 10 June 2012.

    The treaty will apply from 1 January 2013 for withholding taxes and other tax matter whereas from 10 June 2012 in respect of exchange of information.

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

    • Dividends:
      • 10% if the beneficial owner of the dividends is a company (other than a partnership) which holds directly at least 10% of the capital of the company paying the dividends.
      • 15% in all other cases.

    • Interest: 10% withholding tax on interest.

    • Royalties: 10% withholding tax on royalties.
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