In consideration of the country’s progress in international cooperation in tax matters, the OECD announced that it will not include Panama in the list of non-cooperating countries.

The decision was based on the actions taken by Panama in adapting its legislative framework, signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, and the work carried out by the Directorate General of Revenue (DGI) to respond to specific requests for information.

The qualification of this evaluation is an important recognition, but it also implies the challenge of achieving the final result in 2018 is equal to or better than the one obtained temporarily. The forum assigned a temporary rating of “complier of high degree” to the country, the second best note that can be obtained, explains Publio Cortés, General Director of Revenues.

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