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.

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Panama Seeks to Avoid Tax Haven Status

May 2013

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.

Panama and Luxembourg Agree on Double Taxation

June 2010

Authorities from both countries concluded negotiations for a double taxation agreement.

This is the ninth agreement negotiated by Panama, out of 12 required to get out of the list of tax-havens of the Organization of Economic Co-operation and Development (OECD).

“Both delegations met in Panama during the week, and finally signed a draft agreement, which must still be formally ratified by the Legislative bodies of both nations”, reported

A Threat for Investment in Costa Rica

June 2010

Staying at OECD’s tax-haven lists add fiscal disadvantages for transnational corporations operating in the country.

Costa Rica emerged of the “black list” of the Organization for Economic Co-Operation and Development, but is now in its “gray-list”, after assuming the commitment of negotiating tax information treaties with at least 12 countries.

Avoiding Being Called "Tax Haven"

August 2009

The government of Panama will foster the negotiation and signature of treaties to avoid double taxation.

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".

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