Japan and Panama Reach Agreement

Under Scrutiny: Offshore Accounts

Under Scrutiny: Offshore Accounts

The Panama Papers leak of documents has implicated politicians and business leaders around the world in tax evasion.

Japanese Prime Minister Shinzo Abe and Panamanian President Juan Carlos Varela have reached an information-sharing agreement. It is the first time for Panama to take such a measure. 

Japan has agreed in principle with Panama to exchange information on tax affairs, the country’s Finance Ministry said. Japan’s news agency «Kyodo» (paywall) reported that the deal would be signed off as soon as the governments agree on the process to allow automatic exchanges of data, such as on offshore bank accounts of Japanese companies.

First Agreement

The massive Panama Papers leak of documents, first reported last month, has implicated politicians and business leaders around the world in tax evasion. It will be the first time for Panama to conclude such an agreement.

 

 

 

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