In a reversal, Panama has agreed to join global tax reporting standards. The move comes shortly after European powers threatened a crackdown on tax havens. Panama has agreed to comply with international tax reporting standards, Organization for Economic Cooperation and Development (OECD) Secretary-General Angel Gurria said Thursday. The move comes in the wake of the […]
It is about time!! The mayoral office has finally awarded the Brazilian company a $89 million contract to improve the Via España. In the midst of a controversial process because of appeals by two of the participants, the tender to carry out urban intervention works on the Via España has been finalised with the award […]
Amid the Panama Papers crisis, the Panamanian and Colombian governments have resumed talks to reach an agreement on the exchange of tax information. From a statement issued by the Ministry of Foreign Affairs in Panama: The Republic of Panama resumed (on Wednesday 13 April) in Bogota, negotiations with the Republic of Colombia for Cooperation between […]
The Public Services Authority has announced a public consultation to regulate the relationship between the ‘large clients’ and third parties related to electricity services. From a statement issued by the National Authority for Public Services in Panama: The National Authority for Public Services (ASEP) announced that on Tuesday April 12 that they will start Public […]
I remember when the scandal broke at UBS and the guy that “told all” in trade for 2 years in jail time and a $104 Million by the IRS. He reports that the whistle blower must have been the CIA. No US politician is connected with any offshore accounts? HMMMM. “There’s something seriously sinister here.” […]
The plan is to implement longer terms in contracts and release energy and power demand from large customers. The Energy Plan 2015-2020 presented by the National Secretariat of Energy in Panama is broken down into two main parts: first, the Short-Term Operational Plan 2015-2019, where proposals for the period are detailed, and second, the National […]
In countries where airlines work closely with airport authorities and governments, the sector’s development has been remarkable, as is the case of Panama. Air connectivity in Latin America and the Caribbean is expensive: there are 130 different taxes on airfare, costs which are charged to companies, individual travelers, the aviation industry and tourism in general. […]
The Ministry of Education in Panama is putting out to tender the study, design, construction, infrastructure replacement and other renovations and expansions in schools in the Ngobe Bugle area. This is huge step forward in improving education which will eventually translate into economic advancement for some of the poorer areas of Panama. Rich in tradition […]
The value per square meter in the Panamanian colonial settlement has almost doubled in the last 10 years. The restoration of the ‘Casco Antiguo‘ (Old Town) of Panama, which has received investment and economic boom in the city has made property prices soar. According to a report published by Martesfinanciero.com, there are about 900 buildings […]
Focus Economics put out this report demonstrating Panama’s underlying strengths. While we only grew 5.3% in Q4 of last year, the growth trend will continue over the next five years, leading Latin America. Makes one proud to be Panamanian and living here! The Panamanian economy grew 5.3% annually in the last quarter of 2015, marking […]