The WSJ reports that Panama Signs Up to International Tax Avoidance Agreement
The move signals a change of approach for the Central American financial center, and comes ahead of a July 2017 deadline set by the Group of 20 largest economies for compliance with international rules on sharing tax information.
In signing up to the Convention on Mutual Assistance in Tax Matters, the Panamanian government has committed to provide information to the other 104 signatories, which would allow them to identify individuals who are using shell companies or offshore accounts in the country to avoid paying tax.
As you may recall, six months ago the Panama Papers Revealed Clinton’s Kremlin Connection, John Podesta’s lobbying firm.
Prior Panama Papers posts here.