Greece and Uruguay are removed from list of countries that discriminate against Panama

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  • Fri, 05/04/2018 - 14:01
  • Presidencia de la República de Panamá

Greece and Uruguay were excluded by Panama from the list of countries that discriminate against the Central American nation as non-cooperating in tax matters, in a decision approved by the Panamanian Foreign Affairs, Economy and Trade and Industry portfolios.

The Panamanian Government, in a resolution published in the Official Gazette of the State dated April 30, 2018, states that the measure was adopted by virtue of the principle of reciprocity that governs international relations and the fact that both Greece and Uruguay excluded Panama from their lists.

The resolution highlights that Uruguay had subjected its decision to eliminate Panama from its lists upon fulfillment of two conditions.

One of these conditions was to be excluded from the list of countries that discriminate against Panama, and the other was the identification and notification of Uruguay as a partner for the automatic exchange of information on financial accounts prior to May 16, 2018 "provided that this information includes what corresponds to 2017".

Greece excluded Panama from its list of non-cooperative countries last February, as communicated by the Hellenic Government through a verbal note to Panama on March 15, 2018, in accordance with the Panamanian resolution.

The Panamanian Foreign Ministry said on March 29 that the announcement of Greece came "days after the Administration of President Juan Carlos Varela issued a list of 20 jurisdictions in Latin America, Europe and Asia, including Greece, which apply discriminatory or restrictive measures, as a first step to apply reciprocal measures".

An official source told Efe on that occasion that after the Greek decision, Panama will exclude that country from its list, which also includes Brazil, Chile, Colombia, Ecuador, El Salvador, Peru, Uruguay -now excluded-, Venezuela, Croatia, Slovenia, Estonia, France, Lithuania, Poland, Portugal, Cameroon, Georgia, Russia and Serbia.

Panama published on March 9 its first list of countries that apply discriminatory or restrictive measures, as a "first step in the evaluation of reciprocal actions" in immigration, tax and tariff matters.

On March 15, the foreign ministers of Panama, Isabel De Saint Malo, and of Brazil, Alysio Nunes, talked to withdraw from each other's respective restrictive lists, in a bilateral meeting within the framework of the World Economic Forum for Latin America, held in Sao Paulo.

The issue of the Panamanian list would also have been addressed by the Trade Ministers of Colombia, María Lorena Gutiérrez, and of Panama, Augusto Arosemena, at a meeting held in the Central American capital on March 12.


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