In Panama debates are firing up about the requirements for tax information exchange in what The Economist calls the "club of rich countries."
With the statement that "Panama is going through a tax revolution, with a direct impact on the competitiveness of the country", an article in Martesfinanciero.com reviews the concepts contributed by authorities and experts to the forum on the OECD's global project, organized by Chamber of Commerce, Industries and Agriculture of Panama (CCIAP).
With a system of laws to generate competitiveness and legal security for multinational companies, Panama is on its way to repeating the experience of Singapore and Switzerland.
Panama is strengthening its strategic position in Latin America as a commercial, banking, insurance, and logistical center by starting to repeat the first fruits of Law 41 (from August 2007), which provides incentives to international companies to set up their regional headquarters in the country.
Experts have warn that one of the risks of the country being included in a grey list is the possible withdrawal of foreign correspondent banks and financial institutions.
Panamaamerica.com.pa that "... Four months since Panama was included in the gray and thanks to positions held by lawyers, risk consultants, executives of state and private sector executives list, no concrete solutions have been put forward for restoring the reputations of financial transactions in the country."
Panamá Pacífico with thousands of interested visitors to its stand in Expocomer 2010, not only offered the Key Note speech of thursday, but launched the residential phase of this great development on the banks of the Panama Canal