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Panama could well be affected by German anti-tax haven law

RIO DE JANEIRO, BRAZIL - International pressure to combat tax evasion is taking a new turn that could have a negative impact on the Panamanian economy. In addition to damaging the country's reputation, the next step is to take specific measures to discourage companies from having relationships with countries classified as tax havens.

This is exactly what Germany is doing with the so-called Law to Combat Tax Havens, which was passed last June.

With this law, Germany introduces stricter tax measures for relations with countries on the European Union's (EU) blacklist of non-cooperative countries in tax matters . . .

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