OECD Says Panama On Way To Removing Tax Haven Status

Panama is moving toward removing itself from a list of uncooperative tax haven countries compiled by the Organization for Economic Cooperation and Development (OECD), which requires the implementation of 12 Tax Information Exchange Agreements (TIEAs) or Double Taxation Treaties (DTT) with full tax information exchange provisions, an OECD official said this week. Panama's status as a tax haven has become a major stumbling block to congressional passage of the U.S.-Panama free trade agreement. According to Jeffrey Owens, Director of the...