Global Daily Tax News, Panama, Ecuador Sign Tax Information Exchange Pact, (Aug 22, 2025)

Panama has signed a new tax information exchange agreement with Ecuador.

At the signing ceremony, Panama's Minister of Foreign Affairs, Carlos Arturo Hoyos, emphasized that the signing of the agreement is intended to boost transparency between the two nations, in a bid to have Panama removed from Ecuador's list of tax havens. Hoyos added the agreement's signing is consistent with the Government's reform agenda and its bid to apply for membership of the OECD.

Panama's Director General of Revenue, Camilo Valdes, meanwhile, said that signing the agreement demonstrates Panama's commitment to combating tax crimes and money laundering as a state policy, while also promoting investments between the two countries.

In turn, the Director General of Ecuador's tax authority, Damian Larco, emphasized that the agreement is "an act of mutual trust and shared vision" that will enable modern mechanisms for the exchange of information automatically, upon request, and spontaneously, and promote mutual technical assistance.

"The agreement marks the beginning of a period of active collaboration, aimed at generating concrete results for the economies and tax administrations of both nations, strengthening transparency and cooperation as pillars of regional development," Panama's Ministry of Economy and Finance said.