Panama has been rated ‘partially compliant’ for tax transparency by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes.
In a peer review assessment, the forum stated that challenges still remain, in particular to ensure the availability of accounting information. Panama should also strengthen its supervisory programmes to ensure these types of information are kept in practice.
Panama’s tax transparency came into the public eye in 2016, following the ‘Panama Papers’ scandal, which saw information on over 200,000 offshore entities leaked.
Meanwhile, the Global Forum ra...