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20 June 2018

Panama issues its list of reportable jurisdictions for CRS purposes

On 13 June 2018, Panama issued Executive Decree No. 122 of 11 June 2018 (Decree), which adopts the list of reportable jurisdictions for Common Reporting Standard (CRS) purposes.

Law 51 of 2016 defines "reportable jurisdictions" as a jurisdiction with which an agreement is in place and is identified in a published list by the Competent Authority.

On 5 April 2018, the Organisation for Economic Co-operation and Development (OECD) published the list of bilateral exchange relationships under the CRS Multilateral Competent Authority Agreement for Panama, which included 28 jurisdictions.1 Most of the jurisdictions with which Panama has bilateral exchange relationships were included in the Decree as reportable jurisdictions.

Under the Decree, Panama lists 33 jurisdictions as reportable jurisdictions:

  1. Bailiwick of Guernsey
  2. Commonwealth of Australia
  3. State of Japan
  4. United Mexican States
  5. Federation of Malaysia
  6. Grand Duchy of Luxembourg
  7. Ireland
  8. Isle of Man
  9. New Zealand
  10. Kingdom of Belgium
  11. Kingdom of Denmark
  12. Kingdom of Spain
  13. Kingdom of the Netherlands
  14. Kingdom of Norway
  15. Kingdom of Sweden
  16. United Kingdom of Great Britain and Northern Ireland
  17. Republic of Argentina
  18. Republic of Slovenia
  19. Republic of Indonesia
  20. Republic of India
  21. Republic of Seychelles
  22. Republic of Latvia
  23. Republic of Malta
  24. Republic of Poland
  25. Republic of Singapore
  26. Republic of South Africa
  27. Republic of Bulgaria
  28. Federal Republic of Germany
  29. French Republic
  30. Hellenic Republic
  31. Italian Republic
  32. Oriental Republic of Uruguay
  33. Portuguese Republic

Endnote

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CONTACTS

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

Ernst & Young Limited Corp., Panama City

  • Luis Eduardo Ocando
    luis.ocando@pa.ey.com
  • Isabel Chiri
    isabel.chiri@pa.ey.com

Ernst & Young, S.A., San José

  • Rafael Sayagues
    rafael.sayagues@ey.com

Ernst & Young, LLP, Latin America Business Center, New York

  • Ana Mingramm
    ana.mingramm@ey.com
  • Enrique Perez Grovas
    enrique.perezgrovas@ey.com
  • Pablo Wejcman
    pablo.wejcman@ey.com

Ernst & Young LLP (United Kingdom), Latin American Business Center, London

  • Jose Padilla
    jpadilla@uk.ey.com

Ernst & Young Tax Co., Latin America Tax Desk, Japan & Asia Pacific

  • Raul Moreno, Tokyo
    raul.moreno@jp.ey.com
  • Luis Coronado, Singapore
    luis.coronado@sg.ey.com

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ATTACHMENT

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Document ID: 2018-5781

 
 

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