Panama: Members Update
Patton, Moreno & Asvat appoints new Partners
Patton, Moreno & Asvat is pleased to announce the appointment of three new partners, Nadya Price, Khatiya Asvat and Gilberto Arosemena. These professionals have broad and well-recognized experience, and their appointment strengthens the areas of Corporate and Financial Law, Administrative and Commercial Law, and Arbitration in our firm, which benefits our local and international clientele.
This appointment reiterates once more Patton, Moreno & Asvat’s commitment to service excellence, which has set us apart for almost four decades.
Panama signs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS – MLI
The Republic of Panama signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS – MLI, along with other countries that had previously expressed their intention to do so. The MLI allows modifications to the network of Agreements to avoid Double Taxation (ADT) in a faster, more efficient, and synchronized manner, without needing to establish multiple bilateral negotiations.
China and Panama sign Transport agreements and evaluate a Free Trade Agreement
Recently, the governments of the People’s Republic of China and Panama signed agreements about civil aerial transport, which establish the basis to define routes for commercial or cargo flights between the two countries; and about maritime affairs, where Panama received the status of “Most Favored Nation”, as well as benefits in port fees, and preferential treatment for ships with Panamanian flag that arrive at ports in the People’s Republic of China.
Also, start a feasibility study for Free Trade Agreement (FTA) negotiations, the objective of which is to promote and facilitate commercial relations, taking advantage of the benefits and synergies between the two economies. During the visit of China’s Minister of Commerce, Zhong Chan, to Panama at the beginning of this past month of December, it was agreed that the feasibility study for the FTA would commence at the beginning of the year 2018; and both countries hope to launch FTA negotiations by the middle of this same year.
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