Act 1265 2008

Original Language Title: LEY 1265 de 2008

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ACT 1265 2008
(December 26)
Official Gazette No. 47,214 of December 26, 2008 CONGRESS OF THE REPUBLIC

Through which the "Agreement between the Government of the approved 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 13 April 2007. Effective Jurisprudence


THE CONGRESS OF COLOMBIA
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 in the operation of aircraft in international air transport" signed in Bogota on April 13, 2007, which literally say:
(to be transcribed: photocopy of the full text of that instrument is attached).
AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF COLOMBIA AND THE GOVERNMENT OF THE REPUBLIC OF PANAMA FOR THE AVOIDANCE OF DOUBLE TAXATION IN THE EXPLOITATION OF AIRCRAFT IN INTERNATIONAL AIR TRANSPORT
The Government of the Republic of Colombia and the Government of the Republic of Panama, hereinafter agreed "Parties"
Desiring to avoid double taxation caused by the operation of aircraft in international air transport, have agreed as follows
:
ARTICLE 1o.
This Convention shall apply to the operation of aircraft in international air transport by residents in each of the Parties.
Article 2.
.
1. For the purposes of this Convention:
a) The term "resident" means any airline which, under its law is liable to tax by reason of his domicile, residence, place of management, operation base, place incorporation or any other criterion of a similar nature and also includes that State, any political subdivision or local authority thereof.
B) The term "profits or income" includes revenues and gross receipts derived directly from the operation and / or operation of aircraft in international air transportation, including:
i) chartering or leasing of aircraft;
Ii) Sale of international air transport, either for the same airline or others; and
iii) Interest on income, provided that such interests are related to the operation of aircraft in international traffic;
2. The term "airline of the other Party" means, in the case of the Republic of Panama, an airline incorporated under the laws of the Republic of Panama and principal place of business in Panama, and in the case of Colombia, an airline incorporated under the laws of the Republic of Colombia and principal place of business in Colombia.
3. The term "international air traffic" means any transport by an aircraft operated by a company which is a resident of a Party, except when the aircraft is operated solely between places in: the other Party.
4. The term "administrative practice" means the set of decisions and operations emanating from public authorities, when dealing with the exercise of their power to control, to meet government commitments, successfully provide public services and enforce the rights and legally recognized interests managed.

ARTICLE 3.
1. Profits derived by a resident of one of the Parties from the operation of aircraft in international air traffic shall be taxable only in the Party are residents, according to the definition contained in this Convention.
2. For the purposes of this Article profits from the operation of aircraft in international traffic shall include in particular:
a) Gross income from aircraft operation to transport people, mail and cargo in international traffic, including:
i ) Income from the leasing of aircraft properly equipped, manned and supplied for use in international traffic;
Ii) revenues from repair and maintenance of aircraft and lease engines, turbines or parts used in aircraft for international traffic;
Iii) Proceeds from sale of tickets or similar documents for the provision of related services such transport, either to the company or to any other company;
Iv) Interest on amounts directly related to the operation of aircraft in international traffic provided that such interest is incidental to the operation;

B) profits from the rental whether they are exploited in international air traffic by the lessee and benefits are derived by a resident of one of the parties engaged in the operation of aircraft in international air traffic.
3. The provisions of paragraphs 1 and 2 shall also apply to profits from the participation in a pool, a joint business or an international operating agency.

ARTICLE 4.
The capital and assets of the airlines of one related to the operation of aircraft in international air transport Party, shall be exempt from taxes on capital and assets or equity applied by the other Party.

The 5th ITEM.
The airlines of a Party shall be exempt from all complementary or additional income taxes, capital, assets or equity applied by the other Party.

ARTICLE 6o.
Gains airlines of a Party obtained from the alienation of aircraft operated in international air transport and goods related to the operation of such aircraft furniture, shall be exempt from income taxes applied by the Government of the other Party .

ARTICLE 7.
1. The competent authorities of the Parties shall exchange the information needed to apply the provisions of this Convention or domestic law of the Parties concerning taxes covered by the Convention on the understanding that refer only to residents engaged in the air traffic international.
Any information received by the Parties shall be kept secret, as information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and administrative bodies) concerned with the assessment or collection of taxes covered by this Convention, the enforcement or prosecution regarding these taxes or the determination of appeals in relation to such taxes. Such persons or authorities use the information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.
2. In no case shall the provisions of paragraph 1 be construed to require a Party to:
a) Adopt contrary to the laws and administrative practice of that or of the other Party administrative measures;
B) to supply information which is not obtainable on the basis of legislation or the exercise of this normal administrative practice;
C) to supply information which would disclose any trade, business, industrial or professional secret or trade process, or information the disclosure of which would be contrary to public policy.

Article 8.
This Agreement may be amended by mutual consent of the Parties and shall be in writing. The instruments evidencing the modifications or amendments approved by both parties, will be added as Annexes to the Convention and will take effect after that take the constitutional and legal procedures with the respective countries.

Article 9.
This Agreement shall enter into force on the date on which each of the parties fulfilling their internal constitutional requirements to communicate to its entry into force and remain in force until one Party gives written notice to the other Party, through diplomatic channels, its decision to terminate it, in which case cease to have effect twelve (12) months after the relevant exchange of letters.
DONE at Bogota, thirteen (13) days of April two thousand and seven (2007), in two original copies in the Spanish language, equally valid.
For the Government of the Republic of Colombia,
The Minister of Foreign Affairs Fernando Araújo Perdomo
.
For the Government of the Republic of Panama
The First Vice President and Minister of Foreign Affairs, Samuel Lewis Navarro
. RAMA

PUBLIC POWER EXECUTIVE PRESIDENCY OF THE REPUBLIC
Bogotá, DC, ... Authorized. Submit for consideration by the honorable Congress for constitutional purposes.
(Sgd.)
The Alvaro Uribe Foreign Minister,
(Sgd.) Fernando Araújo Perdomo.
DECREES: Article 1.
. To approve 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 Bogota on April 13, 2007.
Article 2.
. In accordance with the provisions of article 1 of Law 7 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 Bogota on April 13, 2007, that article 1 of this law is passed, it will force the country from the date the international link is perfect therefrom.
Article 3o. This law applies from the date of publication.
Given in Bogotá, DC, on ... Presented to the Honorable Congress of the Republic by the Minister of Foreign Affairs and the Minister of Finance and Public Credit.
The Minister of Foreign Affairs Fernando Araújo Perdomo
.
The Minister of Finance and Public Credit, Óscar Iván Zuluaga
. RAMA

PUBLIC POWER EXECUTIVE PRESIDENCY OF THE REPUBLIC
Bogotá, DC, ... Authorized. Submit for consideration by the honorable Congress for constitutional purposes.
(Sgd.)
The Alvaro Uribe Foreign Minister,
(Sgd.) Fernando Araújo Perdomo.
DECREES: Article 1.
. To approve 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 13 April 2007.
Article 2.. In accordance with the provisions of article 1 of Law 7 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 Bogota on April 13, 2007, that article 1 of this law is passed, it will force the country from the date the international link is perfect therefrom.
Article 3o. This law applies from the date of publication.
The President of the honorable Senate,
HERNÁN SERRANO FRANCISCO ANDRADE.
The Secretary General of the honorable Senate,
EMILIO OTERO DAJUD.
The President of the honorable House of Representatives, GERMÁN
MALE Cotrino.
The Secretary General of the honorable House of Representatives,
JESUS ​​ALFONSO RODRÍGUEZ CAMARGO.
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT
transmittal and enforcement.
Run, after review by the Constitutional Court, pursuant to Article 241-10 of the Constitution.
Given in Bogotá, DC, on December 26, 2008

The Alvaro Uribe Foreign Minister, Jaime Bermudez
.
The Minister of Transport,
Andrés Uriel Gallego Henao.


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