On 23 January 2017, the National Assembly of Panama approved the Tax Information Exchange Agreement (TIEA) with Japan. Furthermore, On August 25, the Government of Japan and the Government of the Republic of Panama signed the Exchange of Information Agreement relating to Tax Matters in Panama City.
This Agreement provides for the effective exchange of information regarding tax matters between the tax authorities including automatic exchange of information which is necessary for the exchange of financial account information based on the international standards formulated by the OECD, and is expected to contribute to the prevention of international tax evasion and tax abuse.
