Panama needs new anti-corruption laws to combat tax dodgers - panel
This article is a summary of reporting by Reuters. Originally published November 21, 2016.
An official advisory committee convened to assess Panama's financial and legal systems recommended sweeping anti-corruption legislation to curtail financial abuse and tax dodging. The panel's recommendations targeted illicit acts carried out by Panamanian nationals, financial institutions, and corporate entities. The report highlighted the urgency of structural judicial and regulatory reforms following international scrutiny of offshore accounts. Implementing such reforms was identified as essential to repairing the credibility of the country's public administration and legal institutions.
AI Summary
An independent advisory panel called on Panama to overhaul its anti-corruption legislation to prevent tax evasion and financial malfeasance.
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