Key Benefits:
1265 OF 2008
(December 26)
Official Journal No. 47.214 of 26 December 2008
CONGRESS OF THE REPUBLIC
By means of which the "Convention between the Government of the Republic of Colombia and the Government of the Republic of Panama is approved to avoid double taxation in the operation of aircraft in international air transport," signed in Bogota on April 13, 2007.
COLOMBIA CONGRESS
Having regard to the text of the "Agreement between the Government of the Republic of Colombia and the Government of the Republic of Panama to avoid double taxation on the operation of aircraft in international air transport," in Bogotá on April 13, 2007, which to the letter reads:
(To be transferred: photocopy of the full text of the International Instrument mentioned).
AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF COLOMBIA AND THE GOVERNMENT OF THE REPUBLIC OF PANAMA TO AVOID DOUBLE TAXATION ON THE OPERATION OF AIRCRAFT IN INTERNATIONAL AIR TRANSPORT
The Government of the Republic of Colombia and the Government of the Republic of Panama, hereinafter referred to as "the Parties",
Encouraged by the desire to avoid double taxation caused by the operation of aircraft in international air transport,
You have agreed to the following:
This Convention shall apply to the operation of aircraft in international air transport by residents of each Party.
1. For the purposes of this Convention:
(a) The term "resident" means any airline which, by virtue of its legislation, is subject to taxation by reason of its domicile, residence, address, base of operation, place of incorporation or any other criterion of nature and also includes that State, any political subdivision, or local authority thereof.
(b) The term "profit or income" includes gross income and income directly derived from the operation and/or operation of aircraft in international air transport, including:
i) Fletamento or aircraft leasing;
(ii) Sale of international air transport, either for the same airline or for others; and
iii) Interest on income, provided that such interest is related to the operation of aircraft in international transport;
2. The term "airline of the other Party" means, in the case of the Republic of Panama, an air line constituted according to the laws of the Republic of Panama and with principal place of business in Panama, and, in the case of Colombia, an airline constituted in accordance with the laws of the Republic of Colombia and with principal place of business in Colombia.
3. The term 'international air traffic' means any transport carried out by an aircraft operated by a company which is resident of one of the Parties, except where the aircraft is operated only between places located in: the other Party.
4. The term 'administrative practice' means all the decisions and operations emanating from the public authorities, when they are dealt with by the exercise of their powers of command, to fulfil the tasks of the State, satisfactorily public services and to render effective the legally recognized rights and interests of those administered.
1. Profits obtained by a resident of one of the Parties from the operation of aircraft in international air traffic may only be subject to taxation on the part of their residents, according to the definition contained in the present Convention.
2. For the purposes of this Article the profits of the operation of international traffic aircraft shall include in particular:
a) Gross revenue from the operation of aircraft for the transport of persons, mail and cargo in international traffic, including:
i) Revenue from leasing of duly equipped, manned and supplied aircraft for use in international traffic;
(ii) revenues from aircraft repair and maintenance services and the leasing of engines, turbines or parts used in aircraft for international traffic;
(iii) Revenue from the sale of tickets or similar documents for the provision of services related to such transport, either for the company itself or for any other company;
(iv) Interest in sums directly related to the operation of aircraft in international transit, provided that such interest is incidental to the operation;
(b) The benefits arising from the lease if they are exploited in international air traffic by the lessee and the benefits are obtained by a resident of one of the Parties engaged in the operation of aircraft in air traffic
3. The provisions of paragraphs 1 and 2 apply also to the benefits arising from participation in a consortium, joint venture or an international operating agency.
The capital and the assets of the airlines of a Party related to the operation of aircraft in international air transport shall be exempt from taxes on the capital and assets or assets applied by the other Party.
The airlines of a Party shall be exempt from all additional or additional taxes on the income, capital, assets or assets applied by the other Party.
Earnings that the airlines of a Party obtain from the disposal of aircraft operated in international air transport and movable property related to the operation of such aircraft shall be exempt from income taxes applied by the Government of the other Party.
1. The competent authorities of the Parties shall exchange the information necessary to implement the provisions of this Convention or of the Parties ' internal laws relating to the taxes covered by the Convention, in the understanding that refer only to residents engaged in international air traffic.
Any information received by the Parties shall be kept secret, as shall the information obtained under the laws of this State and shall be communicated only to persons or authorities (including courts and administrative bodies). responsible for the determination or collection of the taxes covered by this Convention, of the declarative or executive procedures relating to these taxes or of the resolution of the resources in relation to those taxes. Such persons or authorities shall only use these reports for such purposes. They will be able to disclose information in public court hearings or in court rulings.
2. In no case shall the provisions of paragraph 1 be interpreted as requiring one of the Parties to:
(a) Adopt administrative measures contrary to the legislation or administrative practice of this or the other Party;
b) Provide information that cannot be obtained on the basis of the legislation or the exercise of normal administrative practice;
c) Provide information that reveals any business, business, industrial or professional secrets or a commercial procedure, or information whose disclosure is contrary to public order.
This Convention may be amended by mutual consent of the Parties and must be entered in writing. The instruments in which the amendments or amendments adopted by both Parties are included shall be added as annexes to the Convention and shall enter into force after the constitutional and legal proceedings have taken place in the respective countries.
This Convention shall enter into force on the date on which each Party communicates the fulfilment of its internal constitutional requirements for entry into force and shall remain in force until one of the Parties communicates in writing. to the other Party, by diplomatic means, its decision to terminate it, in which case it shall cease to have effect twelve (12) months after the corresponding exchange of letters.
FACT in Bogotá, at thirteen (13) days of the month of April of two thousand seven (2007), in two original copies, in Spanish, equally valid.
By the Government of the Republic of Colombia,
The Foreign Minister,
Fernando Araujo Perdomo.
By the Government of the Republic of Panama
The First Vice President of the Republic and Minister of Foreign Affairs,
Samuel Lewis Navarro.
EXECUTIVE BRANCH OF PUBLIC POWER
PRESIDENCY OF THE REPUBLIC
Bogotá, D. C., ...
Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.
(Fdo.) ALVARO URIBE VELEZ
The Foreign Minister,
(Fdo.) Fernando Araujo Perdomo.
DECRETA:
Article 1o. Approve the " Agreement between the Government of the Republic of Colombia and the Government of the Republic of Panama to avoid double taxation on the operation of aircraft in air transport international ", signed in Bogotá on April 13, 2007.
Article 2o. Pursuant to the provisions of Article 1 of Law 7ª of 1944, the " Agreement between the Government of the Republic of Colombia and the Government of the Republic of Panama to avoid double taxation in the operation of aircraft in international air transport ", signed in Bogotá on April 13, 2007, which under article 1 of this law is approved, will force the country from the date on which the international link is perfected. of the same.
Article 3o. This law governs from the date of its publication.
Dada en Bogotá, D. C., a ...
Presented to the honorable Congress of the Republic by the Minister of Foreign Affairs and the Minister of Finance and Public Credit.
The Foreign Minister,
FERNANDO ARAUJO PERDOMO.
The Minister of Finance and Public Credit,
OSCAR IVAN ZULUAGA.
EXECUTIVE BRANCH OF PUBLIC POWER
PRESIDENCY OF THE REPUBLIC
Bogotá, D. C., ...
Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.
(Fdo.) ALVARO URIBE VELEZ
The Foreign Minister,
(Fdo.) Fernando Araujo Perdomo.
DECRETA:
Article 1o. Approve the " Agreement between the Government of the Republic of Colombia and the Government of the Republic of Panama to avoid double taxation on the operation of aircraft in air transport international ", signed in Bogotá on April 13, 2007.
Article 2o. Pursuant to the provisions of Article 1 of Law 7ª of 1944, the " Agreement between the Government of the Republic of Colombia and the Government of the Republic of Panama to avoid double taxation in the operation of aircraft in international air transport ", signed in Bogotá on April 13, 2007, which under article 1 of this law is approved, will force the country from the date on which the international link is perfected. of the same.
Article 3o. This law governs from the date of its publication.
The President of the honorable Senate of the Republic,
HERNAN FRANCISCO ANDRADE SERRANO.
The Secretary General of the honorable Senate of the Republic,
EMILIO OTERO DAJUD.
The President of the honorable House of Representatives,
GERMAN MALE COTRINO.
The Secretary General of the honorable House of Representatives,
JESUS ALFONSO RODRIGUEZ CAMARGO.
COLOMBIA-NATIONAL GOVERNMENT
Communicate and comply.
Execute, upon revision of the Constitutional Court, in accordance with Article 241-10 of the Political Constitution.
Dada en Bogotá, D. C., at 26 December 2008
ALVARO URIBE VELEZ
The Foreign Minister,
JAIME BERMUDEZ MERIZALDE.
The Minister of Transport,
ANDRES URIEL GALLEGO HENAO.
