Panama Takes Further Action On Fiscal Transparency

Panama's Cabinet On September 6, 2016, endorsed legislation to ensure the nation complies with the latest international tax transparency initiatives. The legislation would improve fiscal transparency in both the private and public sector and ensure that information is made available by the territory's financial institutions. Among other things, the legislation would empower the Ministry of Economy and Finance to better collect information required to be exchanged with other countries and compel it to improve its oversight of company reporting.
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