Business group demands retaliation against Colombia

COLOMBIA’s decision to include Panama on a list of tax havens is “disrespectful and unfair,” says The National Council of Private Enterprise (CONEP)

 On Monday, October 13 The group called for authorities to apply retaliatory measures.
Colombia made the move because Panama refused to sign an agreement for the exchange of tax information
In addition to the impact on the image of the country, the measure means Panamanian companies in Colombia have to pay a 33 percent tax.
Both the Panamanian government and business leaders from both countries have flatly rejected the decision.
Former CONEP President Gabriel Diez said appropriate measures could include imposing tolls on Colombian ships using the Panama Canal, the taxation of remittances from Panama to the South American country and the cancellation of the electricity interconnection project between the two countries.
He said the government needs to make it clear that it flatly rejects the move.