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The Exchange of Tax Information Portal is an initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The Global Forum conducts peer reviews of its member jurisdictions' ability to co-operate with other tax administrations in accordance with the internationally agreed standard. The standard provides for exchange of information on request where it is foreseeably relevant to the administration and enforcement of the domestic tax laws of the requesting jurisdiction. Effective exchange of information requires that jurisdictions ensure information is available, that it can be obtained by the tax authorities and that there are mechanisms in place allowing for the exchange of that information. The Global Forum's peer review process examines both the legal and regulatory aspects of exchange (Phase 1 reviews) and the exchange of information in practice (Phase 2). The EOI Portal will track the development of these peer reviews, including changes that jurisdictions make in response to the Global Forum's recommendations.

News: Tax agreement with Panama

Tax agreement with Panama

14 Nov 2012

The Nordic countries have signed yet another information exchange agreement with an off-shore financial centre, this time with Panama. The latest success for the Nordic campaign to curb international tax evasion is an agreement reached on Monday 12 November between Panama on the one hand and Sweden, Denmark, Norway, Finland, Iceland, Greenland and the Faroe Islands on the other. Since 2007, a unique Nordic project has resulted in a whole series of agreements with so-called offshore financial centres. The agreement with Panama is the 39th in the series, which provides the Nordic countries with insight into who has been evading tax. The total amount involved runs into billions. For constitutional reasons the treaties are bilateral and have to be processed by the national parliaments. Once this has been done, it will no longer be possible to move hidden assets and money to Panama. The Nordic countries will also be able ask for information about assets belonging to Nordic companies and private individuals. The agreement was signed on 12 November 2012 at a ceremony in the Panamanian embassy in London. Contact: Torsten Fensby Tel.: +33 678 251 289 Contacts Bodil Tingsby Phone +45 33 96 03 57 Email bot@norden.org

http://www.norden.org/en/news-and-events/news/tax-agreement-with-panama