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Guatemala Still a Tax Haven; Panama and Costa Rica Finally Off the List

Article Summary:

In the new list of countries which France has categorized as tax havens it does not include Panama nor Costa Rica, however Guatemala remains, along with seven other jurisdictions.

Photo Credit: Prensa Libre

Original Article Text From Prensa Libre via Google Translate :

France Has to Guatemala in Tax Haven List

France published on Thursday a new list of tax havens by the vanishing eleven jurisdictions, including Panama and Costa Rica, although the Budget Minister, Valérie Pécresse, said that all will continue to be monitored permanently.
The French government published Thursday in the Official Journal a decree to changes in its list of tax havens, from which he retired to Anguilla, Belize, Costa Rica, Dominica, Grenada, Cook Islands, Turks and Caicos Islands, Liberia, Oman, Panama and Saint Vincent and the Grenadines. But Guatemala is still listed as a tax haven with Brunei, Marshall Islands, Montserrat, Nauru, Niue and the Philippines, list that was added to Botswana.

The update, which had not been done since 2010. Pécresse, who appeared before the Senate Finance Committee, stated that, for those who have left the blacklist, “the challenge for the coming years is to put under monitoring agreements” established with them. He added that “we must be extremely firm in implementing the agreements, “not rule out” any turning back. ” and was referring to the pacts signed tax information exchange with those countries that have allowed a review of your situation.

Since the beginning of the wave international initiatives in 2009 against tax havens, France has completed its device with 41 bilateral agreements have entered into force. The minister also noted that “prosecutors have tightened sanctions” of firms operating in non-cooperative countries, such as prohibition of deducting charges paid in those states, the increase in withholding tax appeal or to take away the burden of justifying specific documentation of all operations. said that the device will apply not only to jurisdictions not identified internationally as cooperatives, but also “all States, in the light of experience, not implement the agreements signed with France.”

“We are more vigilant than ever” to “national sanctions,” he said. In the case of Panama, the agreement last year between the two countries was ratified by the French Parliament in late December. During an official visit to Paris last November, French President Nicolas Sarkozy assured his Panamanian counterpart, Ricardo Martinelli, that the Central American country would leave the list of tax havens as the text was ratified.

A month ago, when French presidency of the G20, Sarkozy was quoted as “tax havens” to jurisdictions at that time, according to the Global Forum on Fiscal Transparency, did not meet international standards on tax evasion: Antigua and Barbuda, Brunei, Botswana, Panama, Seychelles, Trinidad and Tobago, Uruguay and Vanuatu.

This raised some political tensions between Paris and Panama, especially since Pécresse, the announced on 24 November a tightening of controls against tax evasion, put to Panama as an example of non-cooperative state.

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From Prensa Libre

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