Panama City.- The Government of Ecuador officially ratified the exclusion of Panama from its list of tax havens, following the signing of a bilateral agreement for the exchange of tax information, as reported this Friday by the Panamanian Ministry of Foreign Affairs.
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The Panamanian president, José Raúl Mulino, emphasized last Thursday in his weekly press conference that the removal from the Ecuadorian list “is another step in the right direction that I have proposed and is part of my Government’s efforts to get off all discriminatory lists and actions to improve public policies including the application for membership in the Organisation for Economic Co-operation and Development (OECD)”. Mulino recalled that Ecuador “is an important user of the Panama Canal” and explained that he had informed his Ecuadorian counterpart, Daniel Noboa, about the plans to build a new reservoir to guarantee the water supply, as reported at the time by the Ecuadorian Executive. Ecuador included Panama in its list of tax havens in 2008. The Central American country recently came off the European Union’s (EU) money laundering list and, at the end of 2023, off the grey list of the Financial Action Task Force (FATF).
