Panamá – Automatic exchange of information under the Common Reporting Standard
For the first time, last September, Panama exchanged tax information automatically based on the Common Reporting Standard (CRS), thus fulfilling the commitment acquired with the Global Forum for Transparency and Exchange of Tax Information under the provisions of the Convention on Mutual Administrative Assistance in Tax Matters (MAC Convention), which is the legal basis that allows the automatic exchange of financial information for tax purposes. It was ratified in our country through Law 5 of 21 February 2017
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