INTERNATIONAL: Panama to come clean on tax secrets

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INTERNATIONAL: Panama to come clean on tax secrets

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FINANCIAL REVIEW – Panama, the tiny central American country at the epicentre of a global tax evasion controversy, has ceded to pressure and pledged to adopt international tax reporting rules, the Secretary General of the Organisation for Economic Co-operation and Development has revealed.

The apparent decision to better share tax information with other countries came as European leaders agreed to bolster cooperation on identifying who controls companies and trusts, which can be used to avoid tax, launder money and finance crime.

The huge leak of 11.5 million secret documents last week exposed the secret offshore holdings of the rich and powerful through shell companies set up by an obscure law firm based in Panama, Mossack Fonseca.

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  1. I lived 12 years in St. Lucia. My wife and I had a nice time. Till the world ression came and prices, unemployment rose sharply. We live now in Panamá. It is not small. About 90x St. Lucia with only 4 million people. Beautiful nature, mountains, big rainforest and in the mountains all year round springtime temperatures. Great shopping in Panamá City, very modern and not expensive. Totally mixed population. Lucians who go for holidays to Florida, just go to Panamá, you will love it more. No Visa needed.

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