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.
Great news for Panama!
I sure wish the ‘rule makers’ were talking to each other.
The recent rules about 30-day departures from Panama, after 90 or 180 days… to allow re-entry into the country are ‘sending expats home’!
Tourism will suffer.
Oh well… not my problem.
I’ve recently heard that 300+ expats have left Boquete forever… to return to their native countries, or move to another welcoming country.
If this departure rate continues in Panama… there will be fewer people to support the Boquete business community.
This is not good news. I’ve seen other countries experience rapid departure of retired expats.
Now the communities are suffering from their exit, and many business are closing due to their absence.
I hope that someone in Panama is paying attention to the impact of the new rules they’ve put in place.