April 9, 2018 Bilateral exchange relationships are effective between Panama and jurisdictions that are signatories of the CRS MCAA Panama has bilateral exchange relationships with 28 jurisdictions under the Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA). The Organization for Economic Cooperation and Development published on April 5, 2018, the list of bilateral exchanges relationships under the CRS MCAA. A bilateral relationship under the CRS MCAA becomes effective only if both jurisdictions have the Convention on Mutual Administrative Assistance in Tax Matters in effect and have filed all relevant notifications as provided under Section 7 of the CRS MCAA (e.g., having an operational and IT framework to implement the confidentiality standards and data safeguards). Below is the list of jurisdictions with which Panama has bilateral exchange relationships for CRS information: 1. Australia A follow-up Tax Alert will be issued once the Panamanian Tax Authority publishes its list of "reportable jurisdictions." ———————————————
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