Panama to join tax convention today

Panama will take a big step towards ending its status as an offshore tax haven on Thursday by signing a multilateral convention to share foreign taxpayer details with other governments, the OECD's head of tax said.

Panama's role as a major offshore tax haven came into the public spotlight earlier this year when thousands of documents were leaked showing how a Panamanian law firm had helped the rich and powerful around the world evade taxes.

Source: Reuters