France requests OECD countries to add Panama to their lists of tax havens in light of Panama Papers scandal.
Mr Michel Sapin, the French Finance Minister released a statement asking countries that are members of the Organisation for Economic Cooperation and Development to blacklist Panama, his reason for citing such request is because allegedly Panama has made absolutely no progress on the exchange of information since 2012.
He went on to blame the Central American country for misleading the global community into thinking that as a nation, Panama respected and adhered to proper financial regulations. Finally, he ordered French tax officials to restore Panama onto France’s list of non-cooperative jurisdictions, the list that Panama was removed from 5 years ago.
The French Minister also stated that many of the names leaked in the Panama Papers with ties to France were already being investigated by French tax authorities.