The leak of confidential documents from a Panamanian law firm having shed light on the use of offshore financial practices by major personalities has led the French government to add back Panama to its tax haven blacklist.
Panama was removed of the list in 2012 by the French government. Other countries considered by France as non-cooperative countries in the fight against fraud include Botswana, Brunei, Guatemala, Marshall Islands, Nauru and Niue.
In an interview with French radio channel Europe 1, French minister of Finance Michel Sapin said Panama’s ambition to comply with OECD standards in the fight against fraud was “a lure”. Sapin called OECD members to blacklist Panama as well.
The French minister of Finance, who recently unveiled a draft law on the modernisation of French economy (http://www.investmenteurope.net/regions/french-government-unveils-draft-law-on-economic-modernisation/), also declared he would consider a remuneration for whistleblowers leaking data such as that of ‘Panama Papers’.
He specified these remunerations would be provided in exceptional cases.