Panama joins 100 countries in agreement to share tax infoStaff writer ▼ | May 13, 2016
Panama has joined around 100 countries in an agreement to share financial information automatically to tackle tax evasion, the Organisation for Economic Cooperation and Development (OECD) said.
Tax evasion The information sharing scheme
Bahrain, Lebanon, Nauru and Vanuatu are also signing up to the agreement on automatically swapping tax information, which around 100 countries have now joined.
Such exchanges are expected to start in September 2018, the Paris-based OECD said.
“These political commitments to join the fight against tax evasion must be turned into practical reality, through implementation of the standards and actual exchange of information,” OECD chief Angel Gurria said in a statement. ■