important-information « EMBASSY OF PANAMA IN JAPAN

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Guide for Disaster Preparedness in Tokyo

Wednesday, June 7th, 2017

The Tokyo Metropolitan Government has compiled a manual called “Disaster Preparedness Tokyo” (Tokyo Bousai*) to help households get fully prepared for an earthquake directly hitting Tokyo and other various disasters.

Please access to the following URL to get more information. ↓.

Panama Ship Registry 100 years of serving the world 1917-2017

Tuesday, April 18th, 2017

Panama’s President Juan Carlos Varela Signs Mutual Administrative Assistance Convention for Tax Matters into Law

Thursday, February 23rd, 2017

As a continuation of President Varela’s fight against tax evasion, the Government of Panama now allows for exchange of tax information on request with over 100 tax jurisdictions

22 FEBRUARY (Panama City) – President of Panama Juan Carlos Varela signed into law today the implementation of the Mutual Administrative Assistance Convention (MAC), which allows for sharing tax information multilaterally on request with the 107 jurisdictions that are part of the convention and provides a common legal basis for cooperation on tax matters. In implementing the MAC, Panama officially joins all countries from the G20 , BRIICS, OECD, and other major financial centers, as well as an increasing number of developing countries as members to the convention.

“The signature of the MAC into law today is one more step to modernizing and transforming Panama’s financial and services platform, as it establishes the framework for the implementation of international transparency and cooperation initiatives,” said Luis Miguel Hincapie, Deputy Minister of Foreign Affairs, who added, “Starting today, the 107 tax jurisdiction cosignatories to the MAC can request information from Panama without having to negotiate a bilateral treaty.”

Signing the new law is yet another milestone of the ambitious legislative package that President Varela’s administration has presented to Panama’s National Assembly to meet international expectations on financial transparency. In recent months, Panama also joined the Base Erosion and Profit Shifting Initiative of the OECD, and has actively participated in international forums that discuss tax matters.

International Congress on Controlled Environment Agriculture in Panama

Thursday, February 9th, 2017

Panama announces the 2nd International Conress on Controlled Environment Agriculture will take place from May 17 to 19, in Convention Center of the Hotel Eel Panama, located in Panama City.

For more information↓.

‘Panama Papers’ spurred global anti-corruption fight

Friday, January 6th, 2017

Seven months after the leak of 11.5 million documents from a law firm in an incident that has come to be known as the “Panama Papers”, the world is right to ask what has been done since to fight global tax evasion and promote financial transparency.

As president of Panama, and in particular through my interactions with the international community, it is clear that the affair shined a light into the dark corners of global finance and sparked a worldwide reform agenda. Despite the unfortunate name, The Panama Papers has been good for Panama as well as for the world.

Panama was well on the path of reform long before the scandal broke. I was only 21 months in office at the time and had already removed Panama from the international Financial Action Task Force’s “Gray List” in record time. But the crisis accelerated the pace of reform and it engaged the world in a collective effort.

Panama’s legal system was being abused by tax cheats from all over the world. The cost of tax evasion for those governments is approximately $200 billion a year. That means less infrastructure, fewer health benefits and poorer education for millions of citizens. This is even more dramatic in the developing world, where millions are deprived of water, sanitation and other basic necessities. The Panama Papers changed everything. From Canada, to the United Kingdom, Denmark, the European Union and Uganda, countries worldwide have intensified their investigations and prosecutions of tax evasion.

Switzerland announced in November that the government it is proposing a tax reform that could potentially abolish corporate tax arrangements that are not up to international standards. The European Council adopted resolutions to strengthen financial transparency and to achieve more effective cooperation between tax authorities. The Canadian Standing Committee on Finance met to give recommendations to Canada’s Revenue Agency to contribute to global efforts to fight tax evasion. The United Nations’ top expert on the promotion of a democratic and equitable international order has also called for action, urging the new Secretary General to convene a world conference on tax evasion.

Panama, too, has made huge progress in this fight. The world may have forgotten that over the course of only 25 years, Panama went from being ruled by military dictators and criminals to a functional, albeit young, democracy, with some blemishes in between, some of which we are still dealing with. From the beginning of my political career, ending corruption and promoting transparency have been among my top goals. In fact, as Panama’s foreign minister I signed numerous transparency treaties, including treaties of exchange of tax information with European and North American countries, and reactivated Panama’s participation in the Global Forum of the Organization for Economic Cooperation and Development (OECD). I was elected president on an anti-corruption platform.

I have continued to take steps to clean up our past, domestically and internationally, including negotiating further expansion of our financial and tax exchange agreements with countries such as the United States, Japan and Germany. We have also maintained dialogue with the OECD, and officially requested an invitation to join their Convention on Mutual Administrative Assistance on Tax Matters in November. Joining this mechanism will allow us to cooperate with more than 90 countries exchanging financial information upon request. At home, we are fighting corruption and holding those responsible accountable. By cleaning up corruption, my government has been able to invest in our infrastructure and our people, giving opportunity to millions and ensuring continued economic prosperity at home. Our economy is today among the fastest growing in Latin America, and confidence in our financial future is increasing. I recently concluded a $2.6 billion loan package with Japanese Prime Minister Shinzo Abe to expand our transportation system with a state-of-the-art monorail system

To be sure, more changes are needed. That is why I recently presented measures to our National Assembly that would strengthen legal and business registration systems and start adjusting our technological platform for when, in 2018, we start implementing bilateral automatic exchange of information by request. I have also just received the long-awaited findings of an independent blue-ribbon panel I commissioned to examine Panama’s legal and banking systems. I am proud to say that we are already well on our way to implementing many of their recommendations. The report is available to the public.

Our call for new multilateral approaches to fighting tax evasion has translated into real legislative projects that are passing through congresses around the world. And best of all, citizens have become heavily involved in holding their governments accountable on the decisions they make regarding tax law. International organizations and world leaders, including German Chancellor Angela Merkel, have praised Panama’s efforts at home and our role as a global catalyst for reform.

It is my hope that, one day, Panamanians will come to regard “The Panama Papers” as a badge of honor; a moment where we took the lead globally to address the exploitation of our country by unscrupulous tax cheats, returned transparency and accountability to our nation and to others, as well, and improved the prospects for social development worldwide by redirecting needed tax incomes to the critical investments our people deserve.


Changes to Financial Industry

Tuesday, December 13th, 2016

H.E. Luis Miguel Hincapié, Vice-Minister of Foreign Affaires of Panama, comments on changes to financial industry.

For more information↓.

Notification of Office Relocation

Friday, October 7th, 2016

Since October 10, 2016, The Embassy of Panama and The Consulate General of Panama in Tokyo have been relocated to following adress.

Samon Building ,
2-21-7,  Higashi Azabu
Minato-ku, Tokyo 106-0044

Consulate (1F)
tel:03-3585-3661
fax:03-3585-3662

Embassy (2F)
tel:03-3505-3661
fax:03-3505-3200
E-mail: embpanamajapon@mire.gob.pa

* 4min walk from Akabanebashi station (Oedo Line) Nakanobashi Exit

IMF Executive Board Concludes 2016 Article IV Consultation with Panama

Thursday, June 16th, 2016

On May 23, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Panama.

Panama has had the highest average growth in the region over the past decade and is expected to continue to have one of the strongest growth rates in Latin America, set against a backdrop of low inflation, a stable financial system, and a declining current account deficit. GDP grew by 5.8 percent in 2015, and growth is projected to remain around 6 percent in 2016 and over the medium term. The economy will be supported by the expected opening of the expanded canal and lower fuel prices, which will counterbalance the effects of slowing global growth and U.S. dollar appreciation. Over the medium term, the increase in canal transit, a dynamic service sector, and investments in the energy, mining, and logistics sectors should help maintain vibrant growth. Inflation is expected to remain subdued in 2016..

For more información, click here ↓

Panama Canal Expansion will be inaugurated on June 26, 2016.

Monday, June 6th, 2016

The Panama Canal Authority (ACP) announces that the Panama Canal Expansion will be officially inaugurated on Sunday, June 26, 2016.

For more información, click here ↓

Information About Panama Canal Expansion Inaugural Ceremony(English 2minutes)↓:

Always Thinking Big, Panama Launches Three New Infrastructure “Megaprojects”

Friday, May 27th, 2016

PANAMA CITY, PANAMA (May 26, 2016)– The Government of Panama announced today the commencement of three major new transportation and energy megaprojects with international investments and partnerships worth over $4 billion. The megaprojects include construction of Central America’s first natural gas based energy plant, Line 3 of Panama’s metro, and the fourth bridge over the Panama Canal. These projects continue a series of massive infrastructure initiatives successfully launched and completed by the Government of Panama as part of President Juan Carlos Varela’s 5-year development plan that has already secured investments of over $19 billion for transportation, housing, basic sanitation and water infrastructure projects.

For more información, click here ↓