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Panama is likely to pass text deal next month, says US Trade official Sapiro

Thursday, March 31, 2011

Panama’s Congress probably will pass a tax-information exchange agreement before taking a recess in late April, said Deputy US Trade Representative Miriam Sapiro, who is working with the nation’s trade ministry.

The accord, signed by the U.S. and Panama in November, must be approved by the nation’s legislature before it can take effect, clearing the way for the Obama administration to send a free-trade agreement to Congress for consideration. 

The tax deal will allow both nations to seek and exchange bank account information.

Original source: Bloomberg