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LatinNews Daily - 06 February 2019

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In brief: Panama

* Panama has become the 76th signatory of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA). This follows other efforts to boost tax transparency. Last month Panama’s 71-member unicameral national legislature approved a new law (Ley 591) which makes tax evasion a crime – long a demand by international organisations like the Organisation for Economic Co-operation and Development (OECD), its Financial Action Task Force (FATF), and other Latin American countries.