OECD raises pressure on exchange

marzo 9, 2016 3:28 pm Publicado por 7.279 Comentarios

El Gobierno panameño dijo que trabaja en un mecanismo propio de intercambio de información, con elementos del utilizado por Estados Unidos y del de la OCDE.

Ninety-seven countries have committed to the automatic exchange of information. Panama wants to develop its own model to be implemented in 2018.

The Global Forum on Transparency of the Organisation for Economic Co-operation and Development (OECD) called on Panama to reiterate its commitment to exchange information automatically and to adopt the model proposed by the agency.

This mechanism would mean that the country would be obliged to exchange information with any country that requires it.

However, defended by Panama position is that the exchange is made under bilateral agreements, to be signed only with countries that «have the capacity to handle the information and that is only to be used for tax issues,» he told this newspaper Deputy Foreign Minister of the Republic, Luis Miguel Hincapie.

Last week, Deputy Foreign Minister himself responded in a letter to President of the Global Forum on Transparency, Kosie Louw, reiterating the position of Panama and asking the organization to recognize the differences in Panama with other territories to be a financial center and recalling the US adopted a different system and then was accepted.


The Panamanian Foreign Ministry reiterated the president of the Global Forum on Transparency, Kosie Louw, his commitment to the exchange of financial information, while maintaining conditions such that sending information is based on bilateral agreements and «under a model that ensures strict compliance with rules of confidentiality, protection and proper use of information. «

It also requested the Global Forum to recognize the conditions that distinguish Panama from other jurisdictions that are not financial institutions or that «when financial centers and have adopted the automatic exchange of information under the rules proposed by the Global Forum, have lost competitiveness» , the ministry said in a statement.

OECD calls for the country to adopt the proposed by the international body to exchange information automatically system.

The Panamanian government has responded in this way at the insistence of the Organisation for Economic Co-operation and Development (OECD) for the country to adopt the proposed international agency to exchange information automatically system. This mechanism, called standard Common Information (Common Reporting Standard), urges jurisdictions to obtain information from financial institutions and automatically exchange with other countries on an annual basis.

It is a proposal which seeks to combat tax evasion in the world. It originates from the OECD and the G20, the group of most developed countries, among which are Germany, Canada, USA, France, Italy, Japan and the UK, and has been supported by the G- 24 group of developing countries, which currently chairs the finance minister of Colombia, one of the most interested in the exchange of information with countries Panama. More than 90 countries have committed to initiate the automatic exchange of information between 2017 and 2018.

The President of Panama, Juan Carlos Varela, announced at the UN General Assembly last September that Panama was committed to the automatic exchange of information, but with certain conditions, the same as the vice chancellor said in his message to the Global Forum .

Last December, the Foreign Ministry announced that the government was working on his own «model agreement for the automatic exchange of financial information and in developing the necessary legal framework for its implementation.»

This model would take into account elements used by the United States, the first country that has demanded the automatic exchange of information with the FATCA law, and own standard of the OECD. Panama said that would be willing to start the automatic exchange since 2018 and has made the appropriate adjustments to start the exchange of information with the United States.

The lawyer Alvaro Tomas reported in a recent article that European diplomats have suggested to Panama accede to standard common information model proposed by the OECD. Tomas yesterday told this newspaper that considering that Panama had already expressed its position within the United Nations through its president, «we surprised» the insistence of some countries.

He said no equal, and that the OECD allows the US to use its own model, but does not accept it in the case of Panama. «They have no mercy with Panama and other small countries have dared to enter the financial business. Panama will have the right to defend its service platform, «he said.

For his part, lawyer Carlos Barsallo also said that the challenge of Panama to meet international standards becomes greater every day, «whereas the arguments of why it is so special that it can not do what other countries would do the country they are running out. » To Barsallo, beyond speeches, «Panama must prove that find mechanisms other than most to achieve the same result.»

Last December, the French Finance Minister Michel Sapin said that the cooperation of Panama in the requests for information was not satisfactory, and would be pending the development of trade with Panama in 2016.

Yesterday the Ministry of Finance reported that the owner had received Galo Economy Minister Dulcidio De La Guardia, who is in Paris to represent Panama at the plenary meeting of the FATF. It is unknown whether addressed differences over the sharing of information.

Source: http: www.prensa.com

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