Loophole-ridden tax treaty passes Panama's Assembly http://citizen.typepad.com/eyesontrade/2011/04/americans-are-crying-out-for-fair-trade-policies-and-a-real-crackdown-on-tax-dodging-the-obama-administrations-trade-and.html

Americans are crying out for fair trade policies and a real crackdown on tax dodging. The Obama administration’s trade and tax agreements with Panama represent neither.The tax agreement ratified yesterday by Panama’s legislature allows the country’s government to refuse a tax information request “where the disclosure of the information requested would be contrary to the public policy” of Panama. Given Panama’s longstanding public policy of encouraging tax-haven activities, this loophole is big enough to keep its offshore economy alive and kicking.