13 December 2016 Panama and Germany sign a Convention for the Avoidance of Double Taxation in International Transport On November 21, 2016, Panama and Germany signed a Convention for the Avoidance of Double Taxation with respect to taxes on income derived from the use of ships and aircrafts (the Convention). The Convention will apply to companies operating ships or aircraft in international transport that are residents of one or both of the Contracting States. According to the Convention, income taxes are those levied on all income or any part thereof, including taxes on income derived from the transfer of movable or immovable property, as well as taxes on the revaluation of capital. 2) Germany: income taxes on individuals and legal entities (Einkommensteuer and Körperschaftsteuer), as well as the tax on trade (Gewerbesteuer)
Document ID: 2016-2130 | |||||||||||||||||||||||
