Positively Transparent

Panama has a proven history as an attractive destination for foreign investment because of its central location as a hub operation, its friendly environment for investment serving both international and domestic companies and its secure and stable system of government. Panama boasts a track record second to none in the region in building critical business sectors from financial services to the maritime industry to logistics and shipping, driven in large part by the iconic Panama Canal.


Panama is committed to achieving the highest international standards of transparency and, since 2015, has successfully implemented many actions aimed at fighting tax evasion, improving the coherence of international tax regulations and the search for a more transparent international tax system. In 2021 Panama is doubling down its efforts to continue collaborating with the international community and fighting tax evasion and other financial crimes.

In addition, Panama is cooperating with international organizations and foreign governments to address the necessary steps, in full compliance with established international standards. In this regard, the country has joined international treaties and agreements, enacted laws, modified our legal framework at the domestic level, and strengthened government departments to advance the exchange of information.


  • Panama signed the convention on Mutual Administrative Assistance in Tax Matters (MAC) and bilateral agreements with the U.S. to Improve International Tax Compliance and to Implement the Foreign Account Tax Compliance Act


  • Panama implemented the OECD’s project on Base Erosion and Profit Shifting (BEPS) and began to efficiently implement automatic information exchange.
  • Panama signed the Multilateral Competent Authority Agreement (MCAA)


  • Panama initiated automatic financial account information exchange under the OECD Common Reporting Standard
  • Panama established a Protocol of the Office of the Superior Prosecutor for International Affairs regarding criminal activity preceding money-laundering committed abroad and financing of terrorism and criminalized guilty unlicensed money remitters


  • IMF expresses it will assist Panama in its removal from the FATF list.
  • The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Panama

On Anti-Corruption

We have done so through several international partnerships, the implementation of trainings and through information exchange in full collaboration with the international community, including the World Bank, the Multilateral Competent Authority Agreement (MCAA), the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), the Mutual Administrative Assistance in Tax Matters (MAC) and the Financial Action Task Force (FATF), as well as through bilateral partners like the U.S. and France.

While we recognize there is still more work to be done, we are proud of what we have accomplished so far, especially as we collectively navigate the challenges imposed by the COVID-19 pandemic. We have enlisted some of the world’s leading independent experts, for example through a working group with the United States involving U.S. experts and law enforcement authorities, to review our plan and processes and have adopted their recommendations accordingly.

Furthermore, Panama has undertaken important steps to fight corruption. These actions include, among others, the hiring of experts in topics related to Money Laundering and Financing Terrorism and the signing of an agreement between the Supervisor of Panama Banks (SBP), the Ministry of Industry and Trade (MICI), the Financial Analysis Unit (UAF) and the Public Ministry of Panama (MP) with the objective to mitigate illegal money remittances activities.

The commitment that Panama has shown to financial transparency, particularly in this administration, has been very concrete and decisive. Our biggest sign of commitment happened last year when we delisted half of the 760,000 corporations in our registry. We are the only country in the world to do that. We are taking these aggressive steps because we not only want to be delisted, but we want to set a global standard and be recognized as a symbol for transparency. – Canciller Erika Mouynes



Since 2015, Panama has successfully implemented many actions aimed at reforming its legal framework to strengthen compliance with international standards in the fight against tax evasion and money laundering.

In the past years, Panama pursued 17 instances of international assistance on legal matters, conducted 11 sectorial risk analysis and re-evaluated the country’s terrorist financing risk in partnership with the World Bank. Last year alone, Panama delisted half of the 760,000 corporations on its registry – the only country in the world to do so. In addition, our banks share information with over 73 countries, approximately double what most other countries do.

Regarding fiscal transparency, it is important to highlight that, as a result of the steps taken by the country, Panama has not been included in the List of Non-Cooperative Countries in Fiscal Matters drafted by the OECD for the G20. Panama acknowledges that the country must continue working diligently to adapt its legislation to international standards and strengthen its financial institutions and due diligence processes.