TODAY PANAMA – The Italian Parliament approved Tuesday a double taxation treaty that was signed with Panama at the beginning of 2010 and which had been ratified by the Panamanian National Assembly in December of that same year.
The treaty will go to the senate for final approval.
“We are particularly proud to approve this agreement with Panama because it helps us to better combat tax evasion,” said legislator Fabio Porta.
Porta said the ratification process had been delayed due to difficulties in diplomatic relations between the two countries, something that he said is not uncommon.
“Unfortunately, these agreements do not always reach parliament in a timely manner,” he said, noting that deals from as far back as 2009 are still waiting approval.
The treaty became a priority due to