T&T, Spain deepen business ties
PORT SPAIN
Trinidad & Tobago Guardian
Petroleumworldtt.com
02 24 09
Minister of Foreign Affairs, Paula Gopee Scoon, said yesterday she looked forward to negotiating further agreements with Spain to strengthen bi-lateral ties between that country and T&T. Gopee-Scoon made the comment after signing two agreements with Spain's Foreign Affairs Minister, Miguel Angel Maratinos, at the Hyatt Regency Trinidad hotel.
They signed a Double Taxation treaty and an Agreement for Reciprocal Participation in Municipal Elections. She said the aim of the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income is to prevent the residents of the two countries having to pay taxes on the same income in both countries.
“The convention governs taxation of income derived from among other things, employment, immovable property, business profits, dividends, interest, royalties and pensions,” she said. Gopee-Scoon said that without this convention, residents of either country may be subject to the individual taxation regimes of both countries with respect to the same income. She said that the Convention on Reciprocal Participation in Municipal Elections will entitle nationals of one state, resident in the other state, to vote in the municipal elections of the state in which he or she is resident.
She added that as a result of this agreement, T&T nationals in Spain will be able to vote in Spanish municipal elections. Before the signing of the agreements, T&T and Spanish officials held talks on other areas including technical co-operation, trade and economics and energy. Maratinos said the visit of King Juan Carlos 1 is significant because it is the first State visit of a Spanish monarch to T&T. He said he is proud of the relationship that Repsol YFP is developing with T&T.
He called T&T a model country in many ways. “T&T is a model of modernity, a model of how to address energy policies. It is a social and economic model for your own people. We are pleased to share with you our experience,” he said. He said the two countries would in the future seek cooperation in new areas in tourism, on water desalination projects and renewable energy.
Story from Trinidad & Tobago Guardian
Trinidad & Tobago Guardian
February 17th, 2009
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