Spanish version

ECONOMY

Ministry defends country before the Global Forum

Panama is citing inequalities in economic policies of G-20 nations.

Spanish version

Temas:

Panama is hosting an OECD conference. Panama is hosting an OECD conference.
Panama is hosting an OECD conference.

Minister of Economy and Finance Dulcidio De La Guardia has demanded equality of conditions in the demands of exchange of information.

He said that there should be a level playing field in the adoption of international standards on fiscal transparency and that the common reporting standards (CRS) being promoted by the Organization for Economic Cooperation and Development should be adopted by all jurisdictions. 

"It is unacceptable that member countries of the G-20 have not adhered to the international standards on transparency," said the minister. 

De La Guardia participated yesterday in the opening ceremony of the sixth meeting of competent authorities of the Global Forum of the Organization for Economic Cooperation and Development (OECD), being held in Panama. 

The minister also presented an update of the legal framework that the country has made in recent years, as well as the commitment assumed with the exchange of financial information. 

He referred, for example, to the agreement with the United States to enforce the law on tax compliance abroad, the adoption of automatic exchange of information according to the OECD standard from 2018 and the signing and subsequent ratification of the Convention On Mutual Administrative Assistance in Tax Matters.

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