Fiscal Transparency Procurement Taxes tax information tax information exchange agreements transparency Finance Organisation for Economic Co-Operation and Development Prevention of Money Laundering fiscal evasion tax management tax treaty Cancillería de Panamá Chamber of Commerce, Industries and Agriculture of Panama Convención sobre Asistencia Administrativa Mutua en Materia Fiscal

Costa Rica - Italy Tax Information Exchange

The agreement signed by the Solis administration to exchange tax information with Italy still must be approved by the Legislature.

Friday, May 27, 2016

From a statement issued by the Ministry of Finance:

Representatives of the governments of Costa Rica and Italy signed an agreement to exchange tax information between the two countries on Friday.

This agreement lays down the rules by which the exchange of tax information between the two jurisdictions will be regulated, while seeking to strengthen the international fight against tax evasion.

"The tax cooperation between countries is essential in the fight against tax evasion and tax avoidance. For this reason it is very important for Costa Rica to sign this type of agreement as it demonstrates the country's commitment to be a cooperating jurisdiction interested in complying with international standards of fiscal transparency," said Fernando Rodriguez, Deputy Minister of Revenue.

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Tax Information Exchange between Costa Rica and Italy Applies

August 2019

The Agreement with the Republic of Italy for the exchange of information on tax matters entered into force on June 17th.

The signing of this bilateral agreement took place in May 2016 and establishes the provisions through which the exchange of tax information between both jurisdictions will be regulated, while seeking to strengthen the international fight against tax evasion.

New Attempt in Favor of Fiscal Transparency

December 2017

The Panamanian government has announced that the accession to the Multilateral Agreement between Competent Authorities will expand the network of countries with which financial information will be automatically exchanged as of 2018.

From a statement issued by the Ministry of Foreign Affairs:

Panama: Fiscal Bilateral Exchange with OECD Countries

October 2016

The agreement with the OECD allows the automatic exchange of tax information to be made bilaterally.

From a statement issued by the Ministry of Foreign Affairs:

The Government of Panama signed today in Paris the Convention on Mutual Administrative Assistance in Tax Matters (MAC), a definitive step in updating and transforming the country’s international financial services platform.

Panama Signs Agreement to Implement FATCA Law

April 2016

The agreement signed with the United States states that exchange of information will be done between the tax administrations.

From a statement issued by the Ministry of Economy and Finance (MEF):

Panama and the United States signed today the Intergovernmental Agreement (IGA) between the two countries for the implementation of the Foreign Account Tax