Panama is listed by the EU as a country that is not cooperative on tax issues.
A European Union official has threatened to sanction Panama and other nations if they don’t cooperate fully to fight money laundering and tax evasion, after a leak of data showed the small country remains a key destination for people who want to hide money.
The 11.5 million documents from the Panama-based law firm Mossack Fonseca showed it helped thousands of individuals and companies from around the world set up shell companies and offshore accounts in low-tax havens. Because such accounts often hide the ultimate owner of …read more
Source: The Indian Express
