U.S., Panama Sign Tax Information Pact That May Help Trade Deal
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The U.S. and Panama today signed a tax-information exchange agreement that will allow both countries to seek bank account and other information from each other.
“Today, we are ushering in a new era of openness and transparency for tax information between the United States and Panama,” Treasury Secretary Timothy F. Geithner said in a statement about the pact signed in Washington with Panama’s vice president and foreign affairs minister, Juan Carlos Varela. The agreement covers information starting Nov. 30, 2007, the Treasury said.