The Netherlands and Colombia have signed an agreement for smooth trade

The Netherlands signed a tax agreement with Colombia. It avoids double taxation and is good for the economic interests of both countries, according to the Ministry of Finance. This agreement also includes agreements to prevent tax evasion.

“Colombia is a key partner for the Netherlands in Latin America,” the ministry said. The agreement should remove barriers to economic activity. “An agreement also provides legal guarantees to taxpayers in both countries.”

The agreement prevents companies in both countries from paying taxes on the same thing.

The Netherlands was the first country to make Colombian arbitration agreements. “If taxpayers from Colombia or the Netherlands have a dispute about double taxation and competent authorities do not resolve it, they can submit it to a permanent panel of experts, who will confirm this.”

This agreement has yet to be approved by Parliament. Colombia is the second largest flower exporter in the world after the Netherlands.