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<p>Tackling the shadow economy and improving international tax transparency is a priority
for this Government. We work with a range of international partners to tackle illicit
financial flows, and have worked closely with Panama’s government to amend and implement
key legislation before and after the so-called “Panama Papers”.</p><p>Rather than
focus specifically on amending Corporation Law 32, this Government continues to work
with Panama on the implementation of new laws, which help it improve regulation of
the sector.</p><p>As part of President Varela’s visit to the UK in May 2018, the Prime
Minister, Chancellor and others discussed the importance of passing and enforcing
relevant legislation.</p>
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