Caribbean & Central America - December 2010 (ISSN 1741-4458)

Tax deal: On 30 November, Panama and the US signed a tax information exchange agreement (TIEA) that will permit the nations to seek information from each other on all types of national taxes in criminal and civil matters for tax years beginning 30 November 2007. The agreement - Panama's tenth TIEA - is part of Martinelli's offensive to get Panama off the Organization for Economic Co-operation and Development's (OECD) 'grey list' for which 12 such agreements are necessary. Panama has signed treaties with South Korea, Singapore, Luxembourg, Mexico, Spain, Qatar, Barbados, Portugal and the Netherlands; it has also negotiated, but has yet to sign, treaties with Italy, Belgium, France and Ireland. Panama hopes the new deal will clear the way for the US congress to ratify the 2007 Free Trade Agreement (FTA) the two countries signed and which Panama has already ratified.

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