The OECD announced today that Panama has become the 105th jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion. This it did by signing the [Multilateral Convention on Mutual Administrative Assistance in Tax Matters](http://www.oecd.org/ctp/exchange-of-tax-information/convention-on-mutual-administrative-assistance-in-tax-matters.htm?utm_source=Adestra&utm_medium=email&utm_content=Multilateral%20Convention%20on%20Mutual%20Administrative%20Assistance%20in%20Tax%20Matters&utm_campaign=Tax%20News%20Alert%2027-10-2016&utm_term=demo).
During the signing ceremony today, OECD Secretary-General Angel Gurría said *”Panama’s decision to sign the multilateral Convention is a confirmation of its commitment to take the necessary steps to meet international expectations in the fight against tax evasion.”* He added, *”It also sends a clear signal that the international community is united in its efforts to stamp out offshore tax evasion. We will continue our efforts until there is nowhere left to hide.”*
[Jurisdictions Participating in the Convention on Mutual Administrative Assistance in Tax Matters (Oct 27 2016)](http://www.oecd.org/ctp/exchange-of-tax-information/Status_of_convention.pdf?utm_source=Adestra&utm_medium=email&utm_content=www.oecd.org%2Fctp%2Fexchange-of-tax-information%2FStatus_of_convention.pdf&utm_campaign=Tax%20News%20Alert%2027-10-2016&utm_term=demo)
Also announced was that the [Global Forum on Transparency and Exchange of Information for Tax Purposes](http://www.oecd.org/tax/transparency/) is expected to publish in early November a peer review assessment of how Panama’s legal framework and practices over the last three years match up against existing international standards of transparency and exchange of information on request.