On August 15, 2025, the Internal Revenue Service of Ecuador (SRI) issued a Resolution to amend the 2015 regulation and to exclude Panama from the list of tax havens/ fiscal paradise. With this decision, Ecuador acknowledges Panama’s regulatory progress and international cooperation efforts in tax matters and the prevention of financial crimes.
In recent years, Panama has aligned its tax system with the international standards of the OECD and the European Union, and has received recognition from the FATF and the European Parliament for its progress in combating money laundering.
Furthermore, on August 14, 2025, Ecuador and Panama signed a bilateral agreement for the automatic exchange of financial information, strengthening tax transparency between the two countries.
The reform facilitates trade and investment with Panama, while reinforcing monitoring and control mechanisms. It represents an important step forward in Ecuador’s tax policy, aiming to strike a balance between economic openness and compliance with international tax standards.
