Since 2016, the Russian Federation kept Panama on a list of states that do not exchange information for tax purposes The Ministry of Foreign Affairs reported on Monday that it received confirmation that Russia excluded Panama from its list of States that do not exchange information for fiscal purposes, in which we remained since 2016. “This fact is followed up on the actions framed in the Mission Panama plan, which executes the Foreign Ministry, in search of improving the reputation of our country at an international level, readjusting it to the highest international standards to consolidate Panama as the most important financial center in the region, ”said the portfolio Foreign Relations in a statement to the Nation. The information highlights that the confirmation announcement was made known by Russian Vice Chancellor Sergei Riabkov during the presentation of credential copies of the new Ambassador of Panama to the Russian Federation, Efraín Villarreal. The statement also highlights that this list entered into force on January 1, 2020. Ismael Gerli
Panama has been in the world for the last years to be classified as a tax haven, so that the last government administrations have armed themselves with legal regulations in order to combat money laundering, drug trafficking and tax evasion and thus comply with the demands of international organizations such as the Organization for Economic Cooperation and Development (OECD) and the International Financial Action Task Force Group (FATF), as well as several countries that keep Panama in black and gray lists as non-cooperating in the Fight against these illicit. Panama is known as an important regional financial center and an international logistics hub, which attracts the interest of investors and entrepreneurs from around the world. Ismael Gerli
