Dominican Gov. to pull Panama out of tax haven list
Panama – The Government of the Dominican Republic on Tuesday pledged to revise its list of tax havens to remove Panama from that classification, said Panama’s Foreign Ministry, EFE reports.
The promise that Panama would be considered a “cooperating country” in fiscal issues emerged at a meeting between Dominican Republic Economy deputy minister Hugo Rivera, and Panama counterpart Luis Miguel Hincapié, held in Santo Domingo.
The Panamanian diplomat said the Dominican Republic will review “as soon as possible” the Internal Taxes Agency’s (DGII) list of tax havens, which is related to a local regulation on prices of transfers or transactions. Other countries including Andorra, Bahamas, Gibraltar, Ireland, Liberia, Guatemala and Costa Rica still figure on \ Dominican Republic’s list.
Last April’s scandal of the Panama papers unleashed a whirlwind of criticism against the Central American country, despite having passed laws in recent years to modernize and make Panama’s financial system more transparent.
