Panama outlaws tax evasion, as new blacklisting looms

clock • 2 min read

Panama's parliament passed a bill on Monday that elevates tax evasion to a criminal offense, in a move the goverment hopes will enable the country to stay on the right side of international regulators. Just two days later, the European Commission (EC) added Panama to its blacklist of countries deemed "uncooperative" on money laundering. The new law in Panama classifies evasion of taxes worth $300,000 or more as a crime, and will impose prison sentences of between two and five years for crimes deemed to be fraudulent. Those found guilty of the offence will also be liable for charges of...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.

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