Panama pledges efforts to fight money laundering
(VOVworld) – Panama is willing to work with France and other countries to fight tax evasion and money laundering. During a phone conversation with French President Francois Hollande on Friday, Panamanian President Juan Carlos Varela emphasized Panama’s "commitment to continue cooperating with the international community in the fight against the improper use of financial and corporate services”. Panama has reinforced its financial system and pledges to take necessary steps to fully implement the bilateral agreement on fighting tax dodgers.
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| Panamanian President Juan Carlos Varela (left) tells French President Francois Hollande that Panama is committed in the fight against money laundering following the massive leak coming from Mossack Fonseca. (Photo: AFP/ EPA) |
Hollande called on Panama to share its tax information to serve the probe into “Panama Papers” leak.
Der Spiegel magazine reported on Friday that Germany is considering scrapping tax benefits for companies that do business with tax havens abroad. German Finance Minister Wolfgang Schaeuble has advised his staff to make proposals on how the government could financially punish firms that do business with tax havens enlisted in the “Panama Papers”.