Panama Under Pressure for Fiscal Haven Claims
Panama - The Panamanian economy, which
provides a wide range of services, is under international
pressure due to claims that is it is close to become a
fiscal haven.
According to analysts, in April, the Organization for
Economic Cooperation and Development (OECD) included Panama
in a list of 40 countries linked to the activities of fiscal
havens.
In addition, in the framework of the Free Trade Agreement
between Panama and the United States, Washington set some
conditions, including elements related to tax information
and public limited companies.
In light of the situation, the government and private
businesspeople have rejected the efforts to include Panama
in the fiscal haven category.
The list of institutions opposed to that decision includes
the Panamanian Bank Association and the Association of
International Lawyers, as well as officials from the
incumbent and the future administrations.
In that regard, Trade Minister Gisela Alvarez pointed out
that regarding taxes, the government has been emphatic when
saying that we are not in a position to make decisions
regarding the exchange of fiscal information.
The response must be careful, because any decision by the
authorities of the Superintendence of Banks may have a
long-term negative impact on the domestic economy. |
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