gerli-wren & co. panama out of gray list

Posted in the Equatorial Guinea Forum

Panama out of gray list

Panama

#1 Jul 6, 2011
Panama out of the 'gray list' of tax havens by the OECD

10:45 a.m.- PARIS, France.(EFE).- Panama has left the "gray list" of tax havens by the Organization for Economic Cooperation and Development (OECD) after signing agreements to exchange tax information with 12 countries, said the international body.

The progress in fiscal transparency Panamanian consolidated after that Central American countries signed the Treaty with France the twelfth to prevent double taxation (DTT) required.

The Secretary General of OECD, Angel Gurria, Mexico, acknowledged in a statement that Panama "has worked hard to achieve this milestone and has made great progress on its path to meet international standards in a very short time."

Thus, Panama has become the 39th state to obtain this classification, since the system was created in April 2009.

However, the OECD warned that the Global Forum, to elaborate the lists, will continue to evaluate whether national laws of Panama allow for "effective availability, access and exchange of information."

"The Government has introduced changes to the agreements are effective. Global Forum On the monitor to make sure they work as intended," said Gurria.

The head of the Paris-based agency said that "Panama is important to continue working to fully implement the standards."

The other countries with which Panama has reached such agreements are South Korea, Spain, United States, France, Holland, Italy, Luxembourg, Mexico and Portugal are to be signed with Belgium, Ireland and Czech Republic.

Panama also signed tax treaties with non-OECD countries such as Singapore, Qatar and Barbados, which completes the dozen.

The Central American country now negotiating with Israel, Hungary, Bahrain, Switzerland and Cyprus, concluded new agreements DTT, according to the Government of Panama.

WWW GERLICO COM
Panama 45 Places to Go

Netherlands

#3 Jan 9, 2012
FROM NEW YORK TIMES posted by Ismael Gerli

It’s been 12 years since Panama regained control of its canal, and the country’s economy is booming. Cranes stalk the skyline of the capital, Panama City, where high-rises sprout one after the next and immigrants arrive daily from around the world. Among those who have landed en masse in recent years are American expatriates and investors, who have banked on Panamanian real estate by building hotels and buying retirement homes. The passage of the United States-Panama free trade agreement in October is expected to accelerate this international exchange of people and dollars (the countries use the same currency).

Among the notable development projects is the Panama Canal itself, which is in the early stages of a multibillion-dollar expansion. The project will widen and deepen the existing canal and add two locks, doubling the canal’s cargo capacity. For those who want to see the waterway as it was originally designed, now is the time. The expansion is expected to be completed by 2014, the canal’s 100-year anniversary.

Other high-profile projects include the construction of three firsts: The Panamera, the first Waldorf Astoria hotel in Latin America (set to open in June 2012); the Trump Ocean Club, the region’s tallest building, which opened last summer; and Frank Gehry’s first Latin American design, the BioMuseo, a natural history museum scheduled to open in early 2013. Even Panama City’s famously dilapidated historic quarter, Casco Viejo, has been transformed. The neighborhood, a tangle of narrow streets, centuries-old houses and neo-colonial government buildings, was designated a Unesco World Heritage site in 1997 and is now a trendy arts district with galleries, coffeehouses, street musicians and some of the city’s most stylish restaurants and boutique hotels.

Across the isthmus, on Panama’s Caribbean coast, the Bocas del Toro archipelago has become a popular stop on the backpacker circuit, with snorkeling and zip lining by day and raucous night life after dark. FREDA MOON

2. Helsinki, Finland
Design. Design. Design. Aesthetics fuel a

new cool.

Copenhagen’s culinary awakening and Stockholm’s trend-setting fashion may have ignited the world’s current infatuation with Nordic culture; now Helsinki is poised for the spotlight. The International Council of Societies of Industrial Design has designated it the World Design Capital for 2012.

Design has long been part of the city’s DNA, but in recent years the scene has been increasingly energized: the official Design District has ballooned to encompass 25 streets and nearly 200 design-minded businesses, which range from shops selling housewares and furniture to boutique hotels and clothing stores. Design has infiltrated the restaurant scene as well, notably the elegant Chez Dominique and the hot newcomer (and Michelin-starred) Olo.

On top of all that is the spectacular new $242 million Helsinki Music Center. Student ensembles from the Sibelius Academy — the sole university in Finland devoted exclusively to music — will perform in the striking glass-walled space, and both the Vienna Philharmonic and the Helsinki Philharmonic Orchestras will give concerts in 2012. INGRID K. WILLIAMS

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