Panamá targeted by OEDC
The Organization for Economic Development and Cooperation is combating countries considered tax havens, and Panama is in the list.
Thursday, October 23, 2008
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.
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.
Authorities from both countries concluded negotiations for a double taxation agreement.
Staying at OECD’s tax-haven lists add fiscal disadvantages for transnational corporations operating in the country.
The government of Panama will foster the negotiation and signature of treaties to avoid double taxation.
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