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Organization for Economic Cooperation and Development piles pressure on Panama

Monday, October 18, 2010


Panama is being pushed by the Organization for Economic Cooperation and Development to make changes to taxation legislation to zero in on owners of bearer shares in corporations and company income generated abroad.

Although Panama had been signing double taxation treaties with other countries to comply with organization guidelines, it will have to take additional measures to exit the list of tax havens compiled annually by but the agency.

"Changes to legislation are necessary to ensure that tax information is available and accessible to Panamanian authorities," says a recent report.

Original source: Newsroom Panama