Japan and Panama have agreed to conclude an agreement on the exchange of tax information.
Negotiations for this agreement were launched after the Japan-Panama summit meeting which took place on April 20 this year between Prime Minister Shinzo Abe and President of Panama Juan Carlos Varela.
The two leaders shared the view that Japan and Panama must immediately begin formal negotiations on an agreement on the exchange of tax information.
Currently it is likely that Japan will become the first country to sign an agreement on the exchange of tax information with Panama after the leak “Panama Papers” earlier this year.
The agreement will include the rules in accordance with the general standard of the automatic exchange of tax information between countries created by the Organization for Economic Cooperation and Development.