Panama and Japan concluded negotiations for the implementation of a treaty to exchange tax information, which is subject to review by the respective governments before signing.
Once signed, it would go into effect after fulfilling the formalities of their respective legislation.
This agreement marks for Panama the start of bilateral negotiations of agreements that allow the automatic exchange of information, on the basis of international standards formulated by the Organisation for Economic Co-operation and Development (OECD) as part of the commitment of Panama with the automatic exchange of financial information and the adoption of the Common Reporting Standard (CRS) of the OECD.
For Panama, the delegation was led by Farah Urrutia, Director General of Legal Affairs of the Foreign Ministry, and the Japanese team was led by Osamu Kawanishi, director of Treaties and International Affairs Department of Revenue, and Ken Hashiba, director of the Division Mexico, Central America and the Caribbean of the Department of Latin American and Caribbean Affairs.
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