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France Publishes Revised 2012 'Black List' 4/26/2012 French Finance Minister François Baroin and Budget Minister Valérie
Pécresse have recently updated the country’s ‘black
list’ of countries deemed to be ‘uncooperative’ in tax matters.
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Future Bright For Panama: IMF 4/13/2012 The International Monetary Fund has published its Article IV report in respect
of Panama, noting that the country has exited the global downturn robustly, with
a well-capitalised banking system, but efforts should continue to build upon the
tax revenue base to reverse poor revenue performance witnessed last year.
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WTO Members Pressure Argentina On Trade Policy 4/9/2012 At the Council for Trade in Goods meeting on March 30, 2012, fourteen World Trade Organisation members jointly
expressed their deepening concern about Argentina’s import-licensing measures, which were said to have significantly restricted trade flows.
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Canada, India Conclude Latest FTA Talks 2/17/2012 Canada and India hope to complete negotiations on a comprehensive economic partnership agreement in 2013, ministers say, as the latest round of trade talks concludes.
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Panama Plans More TIEAs 2/1/2012 Panama's Minister for the Economy and Finance, Frank De Lima has confirmed
the government will continue to seek out tax information exchange agreements
with other nations despite having reached the twelve
agreement quota set for inclusion on the Organisation for Economic Cooperation
and Development's white list.
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Outlook Worsens For Caribbean, Latin America 1/4/2012 New reports from the Inter-American Development Bank and the Economic Commission
for Latin America and the Caribbean say the region has demonstrated marked
economic gains during the past year, but risks remain significant looking
ahead to 2012.
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US Busts Extensive Panamanian Money-Laundering Racket 1/3/2012 The US Department of the Treasury's Office of Foreign Assets Control has announced
a major crackdown on an extensive money laundering network based primarily in
Panama, which includes several money exchange businesses based in the nation.
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Canada Notes Significant Progress On Free Trade In 2011 12/28/2011 The Canadian government has noted the conclusion of a productive third round of
negotiations with India towards a free trade agreement, in talks in Delhi and
at the Eighth Ministerial Conference of the World Trade Organisation, rounding off a hugely sucessful year for Canada in its quest to achieve freer trade links with its trading partners.
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French Lawmakers' Green Light To Panama DTA 12/26/2011 Safeguarding the interests of businesses in France, the French National Assembly
has definitively adopted a highly controversial bilateral tax agreement between
France and Panama.
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Singapore-Panama DTA Enters Into Force 12/22/2011 The double taxation agreement between Singapore and Panama, which was signed on
October 18, 2010, entered into force on December 19 this year.
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Panama Ditches French Credit Line On Tax Haven Slur 12/5/2011 The Panamanian government has announced its decision to withdraw from a multimillion
funding arrangement with a French banking institution in retaliation for comments
made by French Minister for the Budget and Public Accounts, Valerie Pecresse, in
which Panama was labelled uncooperative in tax matters.
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Canada Legislates For Panama, Jordan FTAs 11/21/2011 Canada's implementation of its free trade agreements with Jordan and Panama will result in expanded opportunities in priority regions, benefiting the country's business and workers, the minister in charge has said.
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Barbados To Tap Latin American Trade Opportunities 10/27/2011 Barbados Minister of Tourism, Richard Sealy has welcomed the 'highly productive'
meetings held with officials and business leaders in Panama aimed at enhancing
bilateral trade and boosting tourism receipts for both countries.
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Obama Signs Trade Pacts 10/25/2011 US President Barack Obama has signed the implementing legislation for
the United States free trade agreements with South Korea, Colombia and
Panama, as well as a bill providing benefits to US workers losing their jobs as a result of freer trade.
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Barbados Explores Latin American Economic Synergies 10/19/2011 The Barbados government commenced a trade mission to Costa Rica and Panama on
October 18, aimed at realising the potential of the Caribbean Community-Costa
Rica Free Trade Agreement and to look at potential synergies between Barbados
and Panama, including in the field of financial services.
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US Congress Finally Passes FTAs 10/14/2011 Both the House of Representatives and the Senate have, in quick succession, passed
implementing legislation for the long-awaited United States free trade agreements
(FTAs) with South Korea, Panama and Colombia, which will now be passed to President
Barack Obama for his signature.
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Obama Submits Pending FTAs To Congress 10/5/2011 Amidst general calls for a swift Congressional reaction, President Barack Obama
has formally submitted the legislation for the three pending free trade agreements between the United States and South Korea, Colombia, and Panama, along
with renewal of the Trade Adjustment Assistance measures and the expired Generalized
System of Preferences trade program.
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Republican Senators Urge Obama to Send FTAs To Congress 10/3/2011 Republicans from the United States Senate, including Senate Leader Mitch McConnell
and its Finance Committee Ranking Member Orrin Hatch (pictured), have sent a letter to President
Obama urging him to submit the pending free trade agreements with Colombia,
Panama, and South Korea to Congress for a vote.
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US Senate Tries To Push Pending FTA Approval 9/27/2011 The United States Senate has voted, on a bipartisan basis, to renew the Generalized
System of Preferences and Trade Adjustment Assistance, in the hope
that it will prompt action from President Barack Obama to present the pending
free trade agreements to Congress.
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Canadian Government Explains Benefits Of EU FTA 9/19/2011 Canada’s Minister of International Trade and Minister for the Asia-Pacific Gateway has been explaining the government’s intention to forge ahead with an ambitious job-creating, pro-trade plan, which includes the conclusion of a free trade agreement with the European Union.
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Caribbean Territories Sign Up To Anti-Corruption Drive 9/15/2011 A number of offshore Caribbean territories have notified their consent to receive
on-site visits to evaluate their compliance with the Inter-American
Convention against Corruption.
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House Approves US Generalized System Of Preferences 9/12/2011 The Republican Party has, with a bipartisan vote in the House of Representatives,
introduced and passed a renewal of the United States’ Generalized System
of Preferences, and hope that it will prompt some action from President
Barack Obama and the Democrat Party to present the pending free trade agreements to Congress.
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Switzerland Tops WEF Competitiveness Index 9/9/2011 Switzerland tops the overall rankings in the Global Competitiveness Report for 2011-2012,
released on September 7 by the World Economic Forum.
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Israel Boosts Tax Treaty Network 8/16/2011 The Israeli government has announced that double tax avoidance treaties have been signed and initialled with Malta and Panama respectively.
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Panama Removed From OECD 'Grey List' 7/11/2011 Panama has followed Costa Rica in being removed from the Organization for Economic Cooperation and Development's 'grey list' of countries which have yet to substantially implement international standards on the exchange of tax information.
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Congress Split On Trade Assistance Law 7/7/2011 The United States House of Representatives Ways and Means Committee has issued
a notice of a meeting to consider the draft implementing proposals for the pending
free trade agreements with Colombia, Panama and South Korea, but without
the extension to Trade Adjustment Assistance which the government had included.
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Republicans Boycott US Senate FTA Review 7/6/2011 The United States Senate Committee on Finance was unable to begin
its review of proposed legislation to implement the three pending free trade
agreements with South Korea, Colombia and Panama, as a scheduled committee meeting was
inquorate when no Republican members attended.
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Latin American States Expand Treaty Networks 7/5/2011 Panama and Costa Rica have expanded their tax treaty networks, with the former signing a new double tax agreement, and the latter inking seven tax information exchange agreements.
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US Senate Takes Pending FTAs Forward 7/1/2011 On June 30, the United States Senate Committee on Finance began to review and
make recommendations on proposed legislation to implement the three pending free
trade agreements with South Korea, Colombia and Panama, that also includes
an extension of Trade Adjustment Assistance.
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EFTA Unveils Progress On FTAs 6/23/2011 Following a recent gathering of European Free Trade Association ministers
in Schaan, the Liechtenstein administration announced details of the signing of
a free trade agreement with Hong Kong.
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Portugal Begins New DTA Negotiations 6/21/2011 The Portuguese government is seeking to expand its tax treaty network, beginning negotiations with three new countries over the last month: Peru, Gabon and Senegal.
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Canada To Push For Implementation Of Panama FTA 6/21/2011 Canada is to move quickly to reintroduce implementing legislation for its Free Trade Agreement with Panama, a government minister has said.
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Peru Expands Regional FTAs 6/1/2011 Peru has added to its treaty network, signing new free trade agreements with Panama and Costa Rica.
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White House Ties FTA Approvals To Jobs Aid Package 5/19/2011 Gene Sperling, Director of the National Economic Council, has disclosed that the United States'
three pending free trade agreements with South Korea, Panama and Colombia
will probably be delayed if expansion of the Trade Adjustment Assistance programme cannot be agreed at the same time.
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FTAs To Boost US Agriculture, Says Kirk 5/17/2011 The United States House of Representatives Agriculture Committee has held a public
hearing to examine the three pending free trade agreements with Colombia,
Panama, and South Korea, and the issues surrounding their implementation.
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USTR Ready To Discuss FTA Bills With Congress 5/6/2011 The United States government has indicated its readiness to begin technical discussions with
congressional staff on the draft implementing bills and draft statements of
administrative action for the pending free trade agreements with South
Korea, Colombia, and Panama.
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Offshore Banking Body Rebrands 4/11/2011 Having broadened its role as a representative on behalf of numerous offshore financial centres in issues pertaining to financial sector regulation and best standards, the
Offshore Group of Banking Supervisors has decided to rebrand itself the
'Group of International Finance Centre Supervisors’.
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EFTA Pursuing New Free Trade Pacts 4/1/2011 The European Free Trade Association has announced the commencement of free
trade negotiations with Bosnia and Herzegovina, and discussions for a further free trade agreement with a consortium
of Central American countries, with an exploratory meeting held on March 23.
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USTR Explains Delay To Panama FTA 4/1/2011 At a recent hearing of the Subcommittee on Trade of the House of Representatives’
Committee on Ways and Means, the Deputy United States Trade Representative Miriam
Sapiro confirmed that the Administration continues to work to advance the pending
free trade agreement with Panama.
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Caribbean, Latin America Seek Closer US Trade Ties 3/28/2011 The Economic Commission for Latin America and the Caribbean has taken the opportunity of the presence of US President, Barack Obama in Latin American nations to call for
the commencement of trade negotiations between the two continents and the United
States, noting that conditions are now right.
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Republicans On Trade Offensive 3/17/2011 The Republican leader in the United States Senate Mitch McConnell, the Republican
ranking member for the Senate Finance Committee Orrin Hatch, and 42 further Republican
senators, have written a letter to the Democrat Senate majority leader Harry Reid,
which looks to force President Obama to present the pending free trade agreements with Colombia and Panama to Congress forthwith.
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US Progressing Pending FTAs 3/11/2011 In his testimony before the United States Senate’s Finance Committee on
March 9, the United States Trade Representative Ron Kirk gave further details
on the government’s efforts to progress the pending free trade agreements with South Korea, Panama and Colombia.
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US Republicans Repeat Call For Presentation Of FTAs 3/4/2011 Following the delivery to the United States Congress of President Obama’s
2011 Trade Policy Agenda and his 2010 Annual Report on the Trade Agreements Programme,
Republican leaders in the House of Representatives have expressed disappointment
that a concrete plan was not laid out for the presentation of all pending free
trade agreements.
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US To Resolve Issues In Colombia, Panama FTAs 2/14/2011 In his first-ever testimony to the Ways and Means Committee of the House of Representatives
on February 9, United States Trade Representative Ron Kirk has stressed that the
government is attempting to resolve the problems it sees within the pending free
trade agreements with Colombia and Panama.
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Republicans Pressure Obama On Pending FTAs 2/10/2011 The United States Senate Republican Leader, Mitch McConnell, has pledged his party’s support to President Obama for an immediate passage of the pending US free
trade agreements with Colombia and Panama.
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Luxembourg Approves Multiple Tax Treaties 2/8/2011 During a recent meeting, Luxembourg’s governing council adopted the bill
providing for the approval of bilateral tax agreements with Barbados and Panama,
as well as for the approval of amendments to multiple existing bilateral tax
treaties.
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MEPs Approve Deal On Latin American Banana Imports 2/8/2011 The 2009 Geneva agreement on European Union import tariffs for bananas from
Latin American countries, which is designed to end the longest-running dispute
in the history of international trade, has received the backing of the European
Parliament.
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US, Panama Sign New TIEA 12/6/2010 In a ceremony at the United States Department of the Treasury on November
30, the Treasury Secretary, Tim Geithner, and Panama’s Vice President and
Minister of Foreign Affairs, Juan Carlos Varela, signed a new tax information
exchange agreement between the United States and Panama.
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Panama, Korea Sign Tax Agreement 10/25/2010 President of Panama, Ricardo Martinelli and his counterpart Lee Myung-bak have witnessed the signing of a double taxation agreement between the two countries.
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Singapore, Panama Sign DTA 10/21/2010 Singapore’s Minister for Foreign Affairs, George Yeo, and Panama’s
Vice President and Foreign Minister, Juan Carlos Varela, have signed a bilateral
agreement for the avoidance of double taxation between their respective
countries.
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IMF Commends Tax Reform In Panama 10/19/2010 In its latest Article IV consultation with Panama, the International Monetary Fund described recent tax reforms and added its support together with some advice about future medium term financial forecasting.
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Panama Signs European Tax Agreements 10/13/2010 The vice-president and minister of foreign affairs of the Republic of Panama, Juan Carlos Varela, has visited Luxembourg, the Netherlands and Spain to sign double taxation agreements.
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UK Leads EU Tax Rate Hikes 10/12/2010 New research from KPMG has shown that workers in the United Kingdom are suffering more than most as a result of post-crisis tax policy, with the UK’s
personal income tax rates now the fourth most punitive in Europe, up from thirteenth
a year prior.
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Panama Faces Up To OECD Test 10/6/2010 The Global Forum on Transparency and Exchange of Information for Tax Purposes criticized Panama in its phase one peer review covering the legal and regulatory framework.
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Panama, Qatar Sign Double Taxation Treaty 10/4/2010 The president of Panama, Ricardo Martinelli Berrocal, accompanied by the vice-president, Juan Carlos Varela, met with the Emir of Qatar, Sheikh Hamad Bin Khalifa Al-Thani, at the United Nations Building in New York to sign a double taxation treaty between Panama and Qatar.
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Global Tax Forum Issues Peer Reviews 10/4/2010 The Global Forum on Transparency and Exchange of Information for Tax Purposes has issued the first phase of peer reviews covering the legal and regulatory frameworks for transparency and exchange of tax information in Bermuda, Botswana, Cayman Islands, India, Jamaica, Monaco, Panama and Qatar.
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Panama, Cyprus Discuss Tax Agreement 9/29/2010 Panama’s President, Ricardo Martinelli met with his Cypriot counterpart,
Demetris Christofias on September 22, to discuss improving economic
cooperation, including through the signing of a convention for the avoidance of
double taxation and fiscal evasion.
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USTR To Resolve KORUS FTA Issues 9/27/2010 Ambassador Ron Kirk, the United States Trade Representative, in his recent remarks
to the Coalition of Service Industries 2010 Global Services Summit in Washington,
confirmed that he looked forward to resolving the outstanding issues with the
South Korea-US free trade agreement.
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Switzerland Tops Competitiveness League 9/13/2010 Switzerland has claimed top spot in The Global Competitiveness Report 2010-2011,
as released by the World Economic Forum on September 9. In the rankings, the United
States has fallen two places to fourth position, overtaken by Sweden (2nd) and
Singapore (3rd), after already ceding the top place to Switzerland last year.
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Panama Expands Tax Agreement Network 9/8/2010 Panamanian Vice President and Foreign Minister Juan Carlos Varela has flown to Europe to sign double taxation treaties with Portugal, Italy, Spain, France, and Luxembourg.
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Jersey Foundations Attract Growing Interest 9/2/2010 Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.
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Panama Reduces Computer Tariffs 9/1/2010 The Panama Cabinet Council has approved a decree amending a group of national import tariffs.
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Panama Ratifies Canadian FTA 8/20/2010 The Panamanian government has announced that the Cabinet Council on August 17
ratified the draft Law on the Free Trade Agreement between Panama and Canada,
as well as bilateral cooperation agreements on labor and the environment.
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Panama Pushes For White List Placement 8/18/2010 Panama’s Deputy Economy Minister, Frank De Lima has said that by the beginning
of 2011 Panama should be placed on the OECD's
white list of territories that have substantially implemented the internationally
agreed standard for transparency and tax information exchange through the signing
of comprehensive Double Tax Agreements.
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Panama Receives Bids For Final Expansion Project 8/16/2010 The Panama Canal Authority has announced that it has received three bids from
international firms to undertake the dredging and excavation of the Pacific Access
Channel entrance.
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Panama Ratifies Barbados Tax Agreement 8/12/2010 The Panamanian government announced the ratification of three cooperation
agreements on August 10.
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Central America Plans Customs Union 7/29/2010 Presidents and high level officials from Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Panama have met to adopt a 'comprehensive agenda' on regional integration.
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South Korea Looks For FTAs In Central America 7/6/2010 South Korea’s President, Lee Myung-bak, has held recent meetings with the
leaders of Panama and the other countries in the Central American Integration
System, Colombia and Mexico, and has attempted, with each, to progress
discussions on bilateral free trade agreements.
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Panama To Sign DTA With Luxembourg 7/6/2010 The Panamanian government has finalized negotiations in Luxembourg ahead of the signing of a treaty to avoid double taxation between the two countries, announced deputy economy minister, Frank De Lima, who led the negotiating team for Panama.
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Panama's Fiscal Reforms Take Effect 7/2/2010 Important changes to income, value-added and other taxes came into effect in Panama on July 1 as part of a major fiscal reform package designed to secure the country's revenue base.
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Panama, Barbados Initial DTA 6/24/2010 Meeting to discuss enhancing bilateral relations, Panama’s Vice President,
Juan Carlos Varela and George Hutson, Barbados’s Minister of International
Business, initialed the text of a convention for the avoidance of double taxation
and fiscal evasion with respect to taxes on income between the two countries.
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US Senators Call For FTAs' Ratification 6/4/2010 United States Senator, Orrin Hatch (pictured) and fifteen other Senators have sent a letter
to President Obama requesting that he propose a specific timeline for the
enactment of the long-delayed free trade agreements with South Korea, Colombia
and Panama.
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Canada, Panama Sign Free Trade Pact 5/21/2010 The Canada-Panama Free Trade Agreement was signed by the Canadian Minister of
International Trade, Peter Van Loan and Panamanian Minister of Commerce and Industry,
Roberto Henríquez at a ceremony on May 14.
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Panama, Singapore Begin Tax Treaty Talks 5/20/2010 The government of Singapore has confirmed to the Panamanian Ministry of Finance
that it will begin negotiations for the signing of a comprehensive double taxation
agreement. The agreement will include provisions for the exchange of tax
information on request.
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OECD: Three More Caribbean Islands Make The Grade 5/21/2010 Dominica, Grenada and Saint Lucia have been moved into the category of jurisdictions considered to have substantially implemented the standard on transparency and exchange of information, having now all signed at least 12 exchange of information agreements conforming to the standard.
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EU Signs FTA With Central America 5/20/2010 European Union member states and nations of Central America concluded an ‘Association
Agreement’ at a joint summit on May 19, 2010. The agreement removes tax
barriers to trade between the two parties, facilitating increased economic activity
between the two blocs.
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Panama Reports Revenue Increase 5/19/2010 Panama’s Minister for the Economy and Finance, Alberto Vallarino has
announced that tax revenues recovered during the first quarter of 2010, following
greater vitality in the economy.
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Chile Plans More Tax Agreements 4/30/2010 Chilean finance minister, Felipe Larraín, has announced that the government had begun negotiation of Tax Information Exchange Agreements with a series of low-tax jurisdictions as a way of combating tax evasion.
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Indian Revenue Agency Opens Overseas Offices 4/30/2010 The Indian Central Board of Direct Taxes has opened tax offices in Singapore and Mauritius and plans to open in at least eight more countries in order to step up its measures against tax evasion.
|
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Panama, Japan Agree DTA 4/19/2010 Panama and Japan have agreed to begin negotiations towards the signing of a Double
Tax Agreement, according to a statement from the Panama government.
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BNP Paribas Divests Offshore Ops 4/8/2010 BNP Paribas is finalizing its plan to terminate its
wealth management activities in Panama, Grand Cayman and the Bahamas. The bank announced on April 2 that it had signed an agreement to transfer its operations to Scotiabank.
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Panama Building DTA Network 4/9/2010 The government of Panama has announced the conclusion of the first round of negotiations
towards a double tax agreement, containing information exchange provisions, with the Netherlands. Several more bilateral tax agreements are due to be completed by Panama in due course.
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Panama Granted Coveted Rating Hike 3/30/2010 Panama has received an upgrade to the credit rating on its debt to investment-grade
after ‘sustained improvements in public finances, underpinned by recent
tax reforms’.
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OECD Reviews Tax Transparency 3/23/2010 18 countries participating in the Global Forum on Transparency and Exchange of Information have been included in the first phase of a peer review process.
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Panama Cuts Corporate Tax 3/18/2010 Panama’s President, Ricardo Martinelli signed on March 15 a bill
to reform Panama's Tax Code, adopting several tax measures to lower the company tax burden, ensure fiscal sustainability,
and simplify the tax system.
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Mexico Signs Tax Information Exchange Accords With Bahamas, Panama 2/24/2010 Mexico signed agreements to avoid double taxation and prevent fiscal evasion with both Panama and the Bahamas, on the occasion of the Summit of Latin American and Caribbean Unity.
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Panama And Colombia Discuss FTA 2/12/2010 Negotiations on a Free Trade Agreement between Panama and Colombia began in
earnest on February 10, and Colombian President, Alvaro Uribe has expressed hope that an agreement could
be achieved in a matter of weeks.
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