Citing the country’s progress in international cooperation in the fiscal area, the OECD has announced that it will not include Panama in the list of non-cooperating countries.

The decision was based on the progress made by Panama in the adaptation of its legislative framework, the expansion of partners for the exchange of tax information and the work carried out by the DGI to handle requests for information.

From a statement issued by the Ministry of Economy and Finance:  

June 28th. – Panama obtained a positive rating in the evaluation of tax information exchange by the Organization for Economic Cooperation and Development (OECD) Global Forum on Transparency and Transparency of Tax Information Exchange.

The Forum assigned a temporary rating of “highly respectable” to the country, the second best note that can be obtained, explained Publio Cortés, General Director of Revenues.