Pressure to Approve Tax Evasion Law

The Panamanian government assures that if the law that criminalizes tax evasion is not approved, the country will be exposed to enter the FATF grey list again in 2019.

Friday, January 4, 2019

From the Ministry of Economy and Finance press release:

The Ministry of Economy and Finance considers that it is necessary for Panama that the National Assembly approve the law that increases tax evasion to a criminal offence and as a precedent for money laundering.

For more than a year the country has been debating the importance of this law to prevent Panama from falling back on the list of the Financial Action Task Force (FATF).

The Financial Action Task Force for Latin America (GAFILAT) analyzed a few weeks ago during its plenary meeting in Quito, Ecuador, Panama's technical progress in closing gaps to comply with the FATF recommendations identified in the Mutual Evaluation Report (MER) published in January 2018.

GAFILAT, in this report, has concluded that Panama is making progress in addressing the technical compliance deficiencies identified in its MER. For this reason, Recommendations 14, 19, 32 and 33 have been positively re-rated.

Read full release (In Spanish).



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The law that criminalizes tax evasion was approved by the National Assembly when the amount defrauded in a fiscal period of one year is equal to or greater than $300.000.

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