A new Resolution recently published by the Government expands the list of countries for automatic exchange of information. The country has supported CRS since 2018. The relevant Law 51 states that all institutions that are subject to reporting. must properly preserve and transmit information in a timely manner.
Now Panama will exchange information with 90 states. The list has been expanded to: UAE, Aruba, Turks and Caicos, Bahamas, Belize, Saint Vincent and the Grenadines, Nauru, Macau, Bermuda, BVI, Cayman, Bulgaria, Hong Kong, Lebanese Republic, Kenya, Kuwait, Romania.
The provisions of the Resolution have already entered into force.