DOUBLE TAXATION ACCORD WITH MADRID.Visiting Cuban Vice President Carlos Lage has signed an economic accord with Spanish Spanish, river, c.150 mi (240 km) long, issuing from Spanish Lake, S Ont., Canada, NW of Sudbury, and flowing generally S through Biskotasi and Agnew lakes to Lake Huron opposite Manitoulin island. There are several hydroelectric stations on the river. Vice President and Economy Minister Rodrigo Rato Rodrigo de Rato y Figaredo (born March 18, 1949) was Spain's Economy Minister and Vice President serving with the Conservative People's Party (PP) between 1996 and 2004. He was appointed to become the Managing Director of the International Monetary Fund (IMF) on May 4, 2004, and , reports the Government of Cuba (February 4, 1999). The agreement is aimed at eliminating double taxation on exports between the two countries, which is expected to further enhance bilateral bilateral /bi·lat·er·al/ (-lat´er-al) having two sides, or pertaining to both sides. bi·lat·er·al adj. 1. Having or formed of two sides; two-sided. 2. trade relations. This is the first such agreement that Cuba has signed with another nation. The Spanish official also announced important advances in negotiations concerning arrears A sum of money that has not been paid or has only been paid in part at the time it is due. A person who is "in arrears" is behind in payments due and thus has outstanding debts or liabilities. in the payment of Cuba's debts to Spain, which will allow Madrid to convert Cuba's debt into investment programs. Lage said that trade with Spain -- Cuba's leading commercial partner -- has tripled in recent years. Of the 340 "mixed enterprises" in Cuba, 65 are with Spanish firms, while Spain has some 200 diverse agencies operating on the island. |
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