A Government Accountability Office study identified Panama as one of just eight countries — and the only current or prospective Free Trade Agreement partner with the U.S. — that is listed on all major tax-haven watchdog lists...
Americans were rightly infuriated by AIG’s attempt to use bailout money on extravagant executive bonuses earlier this year, but their fleecing of U.S. taxpayers actually goes much further. AIG’s largest private shareholder is a Panamanian-chartered corporation called the Starr International Company. Affectionately known as SICO, the company is chaired by AIG’s former chairman, Maurice “Hank” Greenberg. AIG is now suing the U.S. government for $306 million — twice the amount of the executive bonuses — in an attempt to reclaim taxes it says it should not have been charged in relation to SICO’s overseas activities.
Not surprisingly, AIG is one of many financial corporations that supports the Panama Free Trade Agreement.
Actually, Panama went from the “black list” to the “gray list” of money laundering companies.
Now they’re among all the others who have promised to do something — but haven’t done it yet.
http://www.oecd.org/dataoecd/50/0/42704399.pdf (one pager)