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Panama threatens retaliation against Colombia

Thursday, October 9, 2014

Panama on Wednesday rejected its inclusion on Colombia's list of tax havens and said it will take retaliatory action against its neighbor.

Panama has "a competitive and sound tax system, and therefore the national government categorically rejects any tax-haven designation," the Central American nation's Foreign Ministry said in a statement.

"The Economy and Finance, Trade and Industries, and Foreign Relations ministries work in a coordinated fashion to implement applicable measures against countries that discriminate against Panama," it added.

Source: Fox News Latino