Panama Forum

panamajames
Joined 2012
Posts: 5096

6 years ago

Tax Evasion is not a crime in Panama, yet...

6 years ago

In order to avoid going back on the gray list and improving compliance with international standards against money laundering and fiscal transparency, the Panamanian government has presented a comparative study on tax offenses in Panama and other countries in order to start a debate on criminalizing tax evasion in the country.

Panama is one of the few countries in Latin America where tax evasion is not considered a crime, but an administrative defect. The comparative study presented by the Ministry of Finance details that of 27 countries analyzed, Panama and the Bahamas are the only ones that do not criminalize tax evasion.

From a statement issued by the Ministry of Economy and Finance:

The Minister of Economy and Finance, Dulcidio De La Guardia, pointed out that the definition of tax fraud as a crime and a offense which is a precedent to money laundering, aims at complying with the international standard in this matter and, sooner or later, Panama must discuss the issue in order to achieve consensus."

His statements were given today within the framework of the presentation of "Comparative Analysis of Tax Crimes in Panama and in other countries", an event that brought together representatives from different sectors.

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