Double Tax Agreement with United Kingdom has been ratified by the National Assembly and formally published in the official gazette (Gaceta Oficial) on 30 October 2013.

This first-time comprehensive Double Taxation Agreement between the UK and Panama was signed on 29 July 2013.

Important features include exemption from withholding tax on certain dividends and low withholding rates on interest and royalties (not more than 5% if certain conditions are met). The Convention also includes the latest OECD exchange of information article.

The text of the new Convention is available on the HM Revenue & Customs website.

The Convention will enter into force once UK has completed legislative approval processes.



Several Tax Information Exchange Agreements (TIEAs) signed by the Republic of Panama have been ratified by the National Assembly and formally published in the official gazette (Gaceta Oficial):




On 11 October 2013 the Czech Republic ratified the Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 Protocol.

The amendments will enter into force within the territory of the Czech Republic on 01 February 2014.


On 1 November 2013, the Federal Tax Service issued Letter No. OA-4-13/19652 providing detailed instructions as regards the completion of the notification regarding certain controlled transactions (transactions between the related parties as stated in105.14 of the Tax Code of Russia)


Four agreements for the avoidance of double taxation with respect to taxes on income and on capital that Switzerland has signed with Portugal, Bulgaria, Slovenia and the Czech Republic to be applicable from 1 January 2014. The Treaties also include OECD model article on exchange of tax-related information.



On the 12th October 2013 the Accounting Records (Maintenance) Act (No. 18 of 2013) was published in the Belize Gazette.


Belarus's Lower House of Parliament endorsed a law that would ratify the DTAs the nation signed with Indonesia and Singapore on October 24, 2013.



The State Duma of Russia adopted a bill on the simplification of the small business account maintenance in the third readings.

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