Pure tax havens, zero taxes and zero
transparency - Panama is one of 11 "irreducible" countries that
don't accept the international rules that almost 100 countries
have signed up for to combat tax evasion and avoidance.
Panama has been a tax haven par excellence since 1932 and
with over 1,200 banks it is one of the world's major financial
centres. Its companies are tax-exempt and they only have to pay
a single yearly tax.
Accordding to the OECD, the new global standard promoted by
the G20 in its Global Forum is called the Common Reporting
Standard (CRS) against evasion and avoidance, signed by 96
countries.
According to the Global Forum the countries wholly opposed
to introducing transparency and common rules against evasion are
11: Brunei, the Marshall Islands, the Dominican Republic,
Micronesia, Guatemala, Lebanon, Liberia, Panama, Nauru,
Switzerland, Trinidad and Tobago and Vanuatu.
Opening a foreign account is a legal transaction according
to Italian and European law, provided the necessary tax
declarations are made in the home country - in Italy's case for
accounts up to and above 15,000 euros.
ALL RIGHTS RESERVED © Copyright ANSA
