Panama: Call for Flexibility in FATF Requirements


News from Panama

The business sector recognizes the need to implement the standards required to be removed from the gray list, but is calling for flexibility so that businesses are not harmed. Without calling into question the need for the country to implement and enforce the rules on transparency, financial sector companies are insisting that authorities provide them […]

November 3, 2015

Panama: Companies request to postpone ITBMS retention


News from Panama

Because of the short time frame and costs required to make the change, businesses are asking for the enforcement of the obligation to withhold 50% Transfer Tax on Goods and Services to be postponed. From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP): (Panama, October 26, 2015) The Chamber […]

November 3, 2015

Costa Rica: Mutiny on Board


News from Panama

Great movie Mutiny on the Bounty but not such a good scene in Costa Rica. Here is a good editorial on the subject. A ship’s captain is the person legitimately appointed to rule the ship, and must not relinquish power to rebellious sailors who want to set a course that serves their own interests and […]

November 3, 2015

IMF: Costa Rica At Risk of Sudden Financial Adjustment


News from Panama

An immediate fiscal adjustment is needed in order to avoid the risk of a possible closure of credit to the country in the international market, which would force an abrupt adjustment. The warning from the head of the mission at the International Monetary Fund (IMF), Lorenzo Figliuoli, has its origin in the government’s fiscal deficit, […]

November 3, 2015

Photos bring Panama closer to Vietnam in new display


News from Panama

Panama’s beautiful landscape and rich culture are being featured through at an exhibition that has opened in Ha Noi. Many Vietnamese people only know about the country for its canal, but the exhibition will give visitors a chance to see lush tropical forests, wildlife, stunning beaches, skilful fine arts and colourful festivals. The event, jointly […]

November 3, 2015