PANAMA: PRESIDENT SIGNS LAW THAT MAKES TAX EVASION CRIMINAL OFFENCE AND PREDICATE CRIME FOR MONEY LAUNDERING

On 31st January, La Prensa reported that the President had signed a law under which intentionally defrauding taxes from $300,000 in a fiscal year will be punished by 2 to 4 years in prison.  Laundering such proceeds would also face the same penalty.  However, the penalties are lower than for other money-laundering crimes, which have sentences of between 5 and 12 years.

https://www.prensa.com/economia/Presidente-sanciona-penaliza-evasion-fiscal_0_5226977283.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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