Daily Tax Report: International

Panama Lags in Meeting Information Exchange Standards, OECD Says

Nov. 12, 2019, 8:13 PM

Panama has yet to comply fully with global information exchange standards designed to increase transparency in countries’ tax policies, according to the OECD.

The organization’s Global Forum on Transparency and Exchange of Information found that six jurisdictions—including the Dominican Republic, Marshall Islands, and United Arab Emirates—improved provision of company information. Panama was rated “partially compliant” because of challenges in its ability to provide accounting information. The Global Forum released eight country reports on Nov. 12.

  • “With respect to the obligation to maintain accounting records recently incorporated in the Panamanian legislation, we must remember that it was applicable with respect...
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