The authorities of Japan and Panama have signed an agreement on the exchange of tax information to amid growing momentum to prevent international tax evasion following the "Panama Papers" leak, Kyodo News reported quoting Japanese Ministry of Finance. 

It is noted that the agreement will be signed after the countries settle all the details and an order of internal procedures that will allow the authorities to communicate automatically about bank accounts of the companies in an offshore zone.

This agreement is the first of its kind for Panama after the recent leak of documents.

Earlier it was reported that the EU may impose sanctions against "tax harbors".

On April 3 a  large-scale investigation of OCCRP, ICIJ and journalists from tens of editions revealing participation of world leaders, politicians, athletes and cultural figures in offshore transactions has been published.