Panama To Join Automatic Tax Info Exchange Deal

Panama announced on July 15, 2016, that it intends to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

Pascal Saint-Amans, Director of the OECD’s Centre for Tax Policy and Administration, said: “We very much welcome Panama’s request to join the Convention. Signing and ratifying the Convention will be a very significant step forward in implementing its commitment to tax transparency and effective exchange of information.”

According to the OECD, the Convention is the most comprehensive multilateral instrument available for all forms of tax co-operation to tackle tax evasion and avoidance, and guarantees extensive safeguards for the protection of taxpayers’ rights.

So far 98 other countries and jurisdictions have joined the Convention.