France places Panama back on list of tax havens

French Finance Minister puts Panama back on list of countries that don't cooperate in catching tax evaders.

    Finance Minister Sapin said Panama is back on list of countries not cooperating against tax evaders. [Filepic: Gonzalo Fuentes /Reuters]
    Finance Minister Sapin said Panama is back on list of countries not cooperating against tax evaders. [Filepic: Gonzalo Fuentes /Reuters]

    France will place Panama back on its list of countries that do not cooperate in efforts to track down tax evasion, Finance Minister Michel Sapin said after the Panama papers leak created global outrage.

    Panama papers: Iceland citizens call for PM to resign

    "France has decided to put Panama back on the list of uncooperative countries, with all the consequences that will have for those who have transactions" with the central American state, Sapin told parliament on Tuesday.

    Panama "wanted to have us believe that it could respect major international principles," Sapin said. "That's how it managed to avoid being on the blacklist of tax havens."

    France erased Panama from the list of Uncooperative States and Territories (ETNC) in 2012 after the two countries reached a bilateral agreement on fighting tax dodgers.

    In December the finance ministry warned that it was "very attentive" to changes in France's relations with Panama, faulting a poor response to requests for information.


    READ MORE: Panama Papers: Huge leak alleges elites hiding money


    The Panama Papers, a massive leak of secret offshore financial dealings implicating world leaders and celebrities, has pushed many countries to start investigations.

    Panama figured on a list of 30 tax havens last June when the European Commission unveiled its plan to combat tax evasion by multi-nationals.

    SOURCE: AFP


    YOU MIGHT ALSO LIKE

    The woman who cleans up after 'lonely deaths' in Japan

    The woman who cleans up after 'lonely deaths' in Japan

    When somebody dies lonely and alone, Miyu Kojima steps in to clean their home and organise the mementos of their life.

    Putin and the 'triumph of Christianity' in Russia

    Putin and the 'triumph of Christianity' in Russia

    The rise of the Orthodox Church in Russia appears unstoppable, write filmmakers Glen Ellis and Viktoryia Kolchyna who went to investigate the close ties between the church and Putin.

    The chill effect: Is India's media running scared?

    The chill effect: Is India's media running scared?

    Much of India's media spurns a scoop about the son of PM Modi's right-hand man. Plus, NFL as platform for race politics.