A proposal approved by the Minister Cabinet will also analyze "where it is good for national interests to apply the Retorsion Law to countries discriminating Panama".
From Prensa.com: "Efforts will be done in the World Trade Organization, to complain against countries 'blacklisting' Panama, and they will analyze whether it is feasible to escalate the discussion to a multilateral entity like the International Monetary Fund".
The government has designed a strategy to change the international perception of the country as a tax haven in order to avoid discriminatory measures being taken against them.
From a press release by the Ministry of Foreign Affairs of Panama:
In order to end the discriminatory measures that Panama faces by being described as a tax haven the High Level Presidential Commission for the Defense of International and Financial Services, is looking at tools that could be used to defend the country on financial issues from the moment that they start, caused by being categorised as a tax haven.
The Organization for Economic Development and Cooperation is combating countries considered tax havens, and Panama is in the list.
A report on fiscal cooperation published by OEDC on september 29 states that "there are still important restrictions in accesing banking information with fiscal purposes" in three of it member countries (Austria, Luxembourg and Switzerland), and in other tax havens like Panama and Singapur.
London & Regional Panama is the master developer of the former Howard air base in Panama, now called PANAMA PACIFICO.
Panama Pacifico, a mixed-use, business, residential and recreational center, will be created over 40 years by renowned developer London & Regional Panama in conjunction with the government of Panama. For those expanding business overseas, retiring in Latin America or simply visiting this beautiful locale, our sustainable, mixed-use business center and residential hub provides a balance of world-class amenities, infrastructure and services.
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