Panama will participate only in bilateral automatic tax information

junio 9, 2016 11:29 am Publicado por 5.789 Comentarios


Panama’s government said today that its “official” regarding the Organisation for Economic Co-operation and Development (OECD) position is to participate in the agreement bilateral automatic exchange of tax information, not multilateral.

Minister of Economy and Finance of Panama, Dulcidio De la Guardia, told Efe that the official position is the one that gave “signed” in a formal communication recently vice president and Panamanian Foreign Minister Isabel de Saint Malo de Alvarado, in Paris OECD and “has not changed”.

Guard and answered the question about the statement issued last Thursday by the secretary general of the OECD, Angel Gurria, in which he announced that “we still do not have the commitment of Panama to join the multilateral devices”, but its authorities they have said that “they will analyze” and give its decision “within weeks”.

Gurria said that as Panama, other countries such as Lebanon, Bahrain, Nauru and Vanuatu, as announced on 11 May, have accepted the automatic exchange of tax information but on a bilateral basis and not under the multilateral ready device by the Global Forum on Transparency, under the OECD.

Guard you specified today that Panama will launch the bilateral tax information exchange in 2018 with countries with which it has signed an agreement in this respect and following the format established by the OECD. He explained that the agreement with Colombia on this issue, which was completed negotiations on 28 April, is pending signature and then must be submitted in both countries to a process of legislative ratification, so calculated that by the end of 2017 will launch.

Secretary General Gurria considered that the fact that Panama is raised one step further and join multilateral exchanges “is a positive result” that derives from the roles of Panama, global scandal over the use of companies “offshore” allegedly for tax evasion and money laundering, by Panamanian law firm Mossack & Fonseca, through 21 tax havens.

“The Government of Panama has it wanted to point out that they are committed to transparency and we, of course, is what we had been looking for a long time,” he said.


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