Global Tax Alert (News from Americas Tax Center) | 5 November 2013

Panama approves Tax Information Exchange Agreements with Nordic countries

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On 26 and 27 August 2013, Panama's Congress approved bilateral Tax Information Exchange Agreements (TIEA) with Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, which were signed in London on 12 November 2012.

These TIEA set out the means by which Panama will cooperate and exchange information with the other parties, in connection with the administration and enforcement of their respective taxes. They do not provide for automatic exchanges of information.

Following Panama's congressional approval in late August, the TIEA are now in force with Faroe Islands, Finland, Greenland, and Iceland as of 8 October 2013, and with Norway, Sweden and Denmark as of 17 October 2013.

Currently, Panama also has a TIEA in force with the United States.

For additional information with respect to this Alert, please contact the following:

Ernst & Young Limited Corp., Panama City
  • Luis Eduardo Ocando
    +507 208 0144
  • Isabel Chiri
    +507 208 0100
Ernst & Young, S.A., San José, Costa Rica
  • Rafael Sayagués
    +506 2208 9880
  • Alexandre Barbellion
    +506 2208 9800
Ernst & Young LLP, Latin American Business Center, Houston
  • Priscila Maya
    +1 713 750 8698

EYG no. CM3937