Thursday, January 29, 2009

Panama removed from Russian black list

Until recently the government of Russia had imposed a series of restrictions on financial transactions involving Panama, because mobsters and tax evaders in the former country were known to hide their assets here. But as part of Russia joining the World Trade Organization, a bilateral accord between Russia and Panama that deals with many of these concerns has been signed and Russia has removed this country from its financial transactions blacklist. The agreement also contains a merchant marine clause that eliminates special surcharges and coast guard inspections for Panamanian-flag ship calling at Russian ports, which were imposed because of concerns about unseaworthy vessels registered in this country posing hazards in Russia's waters.

Source: Panama News Volume 12, Number 7 April 9 - 22, 2006

Panama has been removed from the blacklist of the Russian Central Bank. The list, first published in the second half of the 90s, contained those jurisdictions whose financial transactions were deemed by the Central Bank to be worthy of special attention from the Russian banking sector.

The removal from the list comes as a result, at least in part, of the bilateral arrangements and agreements concluded between Panama and Russia. Samuel Lewis Navarro, Panama’s foreign minister, achieved similar results in his meetings in France, with Panama also being removed from the blacklist drawn up by the French tax authorities. This gesture by the French was aimed at helping French enterprises operating in Panama, particularly in regard to the expansion of the Panama Canal.

But what exactly are these blacklists really? As the name suggests, certain state organisations or national bodies draw up lists of offshore jurisdictions whose legislation and legal practices they consider harmful to their own country or region. The main objection raised against the offshore jurisdictions is that they siphon off capital, or rather taxation income, from countries which typically have very high rates of taxation. To defend against this, the aim of the lists is to create a kind of discrimination, or “deterrent”. Public opinion can generally be swayed by the notoriety of the lists, leading clients to think seriously about whether it is worth establishing a company in a blacklisted jurisdiction, or rather avoiding such complications.

The most serious sanction, however, is when the country using the list introduces concrete financial steps. For example, they may not allow, or may impose conditions on, certain bank transfers. The other important area of sanctions is where local companies who, say, pay invoices from blacklisted jurisdictions, may be subjected to more stringent inspections. If, for example, a German company includes in its accounts an invoice for consultancy services from a company in Liechtenstein, this may be enough for the authorities to instigate a full tax inspection of the German company for the last 5 years.

Source: Laveco

Canciller panameño rinde informe de exitosa gira de trabajo por Europa.

Panamá, 7 de mayo de 2007.
El primer vicepresidente y ministro de Relaciones Exteriores, Samuel Lewis Navarro rindió un informe sobre la reciente gira oficial a Europa que abarcó Roma, Paris, Madrid y Moscú....

Lewis Navarro dijo que “Francia ha determinado no aplicar medidas discriminatorias con nuestro país y contra empresas panameñas de ningún tipo y para esto estamos a la espera de una confirmación por escrito de los términos de esta información ”.

En cuanto a Italia y España hemos logrado establecer un mecanismo de consulta de los equipos técnicos, de manera que podamos abordar el tema de listas de países que llevan una serie de medidas discriminatorias contra empresas nacionales, informó el canciller panameño.

El primer vicepresidente y ministro de Relaciones Exteriores, Lewis Navarro indicó que “con Rusia hemos logrado reiterar y hacer oficial el retiro de la llamada lista negra en que nos mantenían”.

Rusia estudia crear en Panamá centro logístico energético regional
Agencia EFE. Desde Moscú, Rusia. mayo 4, 2007
El canciller de Panamá, Samuel Lewis Navarro, aseguró que ha abordado con las autoridades rusas la creación en territorio del país canalero del primer centro logístico energético regional.

Durante su visita, las partes firmaron un convenio de cooperación para promover el turismo en ambas direcciones, mientras Rusia excluyó a Panamá de la lista negra de paraísos fiscales

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