In the new list of countries which France has categorized as tax havens France does not include Panama nor Costa Rica, however Guatemala remains along with seven other jurisdictions.
In updated list of tax havens, which has not been reviewed since 2010 the following countries were excluded: Anguilla, Belize, Costa Rica, Dominica, Grenada, the Cook Islands, the Turks and Caicos Islands, Liberia, Oman, Panama, St. Vincent and the Grenadines.
Guatemala, Belice, Costa Rica and Panama were included in a list of 18 countries considered “Tax-Havens” by the French government.
The list was published in French newspaper Le Figaro, and is valid until January 1st, 2011.
Laestrella.com.pa reports: “French companies settled in those countries will receive harsher tax treatment. For example, they will have to retain 50% more for passive rents than companies located elsewhere”.
Costa Rica and Guatemala were upgraded to the "Gray List", whereas Panama remains listed as a "Tax Haven".
A September 24th report by the Organisation for Economic Co-operation and Development (OECD), shows progress in the implementation of transparency and fiscal information exchange standards.
Panama remains cataloged as "a tax haven committed to adopt international fiscal standards, but who has not implemented them substantially".
For this to occur, it was enough to send a letter to the OECD, agreeing to adopt the international standard for the exchange of tax information.
Following the decision by the G20 to act against nations that fail to cooperate in the international exchange of tax information in their last meeting in London, Costa Rica had to act quickly to get out of the "black list" of countries that were not committed to adopting this standard.
They are included in an OECD list of countries that have not implemented the international standard for exchanging tax information.
However, the status of each of these countries is different for the OECD. Panama and Guatemala have committed themselves to the implementation of the international standard for the exchange of tax information, but with the difference that Panama was included in a list of tax havens in the 1998 OECD Report while Guatemala was not blacklisted.