Welcome to the Panama Weekly News Roundup! Here’s the latest.
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist.
European Union officials have proposed removing eight jurisdictions from the blacklist of tax havens the bloc adopted in December, in what critics may see as a blow to its campaign against tax avoidance.
EU states decided last month to draw up the list in a bid to discourage the most aggressive tax dodging practices. But eight of the 17 jurisdictions currently listed are set to be quickly removed from the list after they offered to change their tax rules, according to EU documents seen by Reuters. Panama, South Korea, the United Arab Emirates, Barbados, Grenada, Macao, Mongolia and Tunisia are the jurisdictions that EU officials have recommended be delisted.
Source: Reuters
Panama Hotel votes to drop Trump — but his company won’t go
An attempt to oust President Donald Trump’s hotel business from managing a luxury hotel in Panama has turned bitter, with accusations of financial misconduct.
Trump Hotels is contesting its firing, and its staff ran off a team of Marriott executives invited last month to visit the property during a search for a new hotel operator, according to two people familiar with the matter.
After the owners’ association accused Trump Hotels of mismanagement and financial misconduct in a $15 million arbitration claim, the company owned by the president fired back with a $200 million counterclaim and refused to turn over the property’s financial records. When a team from Marriott International came to the property at the invitation of the hotel’s majority owner, Trump staff asked them to leave, according to the two people, who spoke on condition of anonymity because they were not authorized to discuss publicly what happened behind the scenes.
Source: CNBC
Marriott Just Got Dragged into a Messy Fight Over the Trump Panama Hotel
An attempt to oust President Donald Trump’s hotel business from managing a luxury hotel in Panama has turned bitter, with accusations of financial misconduct.
Trump Hotels is contesting its firing, and its staff ran off a team of Marriott executives invited last month to visit the property during a search for a new hotel operator, according to two people familiar with the matter.
After the owners’ association accused Trump Hotels of mismanagement and financial misconduct in a $15 million arbitration claim, the company owned by the president fired back with a $200 million counterclaim and refused to turn over the property’s financial records. When a team from Marriott International Inc. came to the property at the invitation of the hotel’s majority owner, Trump staff asked them to leave, according to the two people, who spoke on condition of anonymity because they were not authorized to discuss publicly what happened behind the scenes.
Source: Fortune
Panama City’s Jazz Fest Shines for Another Year
Arts and culture in Panama are immensely popular for both veteran expats, newcomers, and locals. Panama has a rich history of performing arts, specifically its music. As the crossroads of two oceans, and two continents, much of what makes up Panama’s music culture is a mix of many different sounds and traditions from all across the world.
There’s a Spanish tradition, an indigenous tradition, a Caribbean tradition, and a North American tradition that all pour into the musical fabric of the country. Because of this, and because Panama is actively trying to draw more big events to the city, the Panama Jazz Festival is an important cultural marker.
Source: International Relocation Firm Blog
