US and Panama sign deal on tax information exchange

The United States has won greater access to information about bank accounts in Panama, a step that could move the US closer to ratifying a stalled trade deal with the Central American nation.

 

Panama has been labeled a tax haven by international organizations including the Organization for Economic Cooperation and Development.

 

Some Democrats in the US Congress had said that Panama must make more progress in helping the US catch tax evaders, before they are willing to let the trade agreement advance.

 

Original source: Dow Jones