Panama may be heading back to tax haven list

PANAMA’S decision to continue to allow the issuing of bearer shares may put the country back on the list of tax havens issued by different countries.

The first sign came from France where a list of countries that are considered tax havens is published in January of each year. Panama was not on the list this year, but was included in a list released this week.

The government has not received any official information that states the country was included by France on the list of tax havens, the Ministry of Economy and Finance said on Tuesday and according to the ministry, Panama maintains an agreement with France to avoid double taxation and "promote an exchange of information."
Bearer shares do not carry the name of the owner and are widely regarded as way od dodging taxes or laundering money. Panama was originally planning to abolish them but backed down under lobbying pressure, One provider of legal services gleefully trumpeted in a Panama publication last week “Bearer shares here to stay.”
President Ricardo Martinelli began a tour of Europe over the weekend and will be a featured speaker Friday at the International Economic Forum for Latin America and the Caribbean organized by the Organization for Economic Cooperation and Development(OECD)
Martinelli is also scheduled to meet with French President Francois Hollande.