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Panama Moves Toward More Transparency After Panama Papers Scandal

Panamanian President Juan Carlos Varela says his country will adopt global tax reporting standards in the aftermath of the Panama Papers controversy. "To prevent the illegal use of Panama's financial systems, we would like to cooperate with other countries to improve transparency," Valera told reporters Tuesday in Tokyo. Members of the Organization of Economic Cooperation and Development (OECD) will visit Panama this week to negotiate ways Panama and other countries can...

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