With Eye On Free Trade, Panama Signs Tax Pact With US

Law360, New York (November 30, 2010, 8:00 PM EST) -- U.S. and Panamanian officials signed an agreement Tuesday pledging to share certain bank account and other tax information, a move Panamanian President Ricardo Martinelli said could smooth the path for a free trade pact between the nations.

The two nations signed a trade pact in 2007 but it has not yet been submitted to Congress for approval. Sen. Carl Levin, D-Mich., and others have urged President Barack Obama to make approval of the trade pact contingent on the tax agreement.

Tuesday’s so-called tax information exchange agreement...
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