Mexico has signed double taxation agreements and other accords to prevent tax evasion with Panama and the Bahamas, according to Tax-News.com.

The wording of the agreements conform with standards set by the Paris-based Organisation for Economic Co-operation and Development and, in the case of the Bahamas Agreement, cover all federal Mexican taxes and Bahamian taxes of every kind and description, including identical or substantially similar taxes imposed later or replacing existing taxes, the report said.

Dozens of countries, including so-called tax havens, have signed DTAs and other accords so that they can be taken off the OECD’s “grey list” of financial centres. The list is defined as those jurisdictions that have promised to cooperate with other states on tax affairs but have yet to fully implement measures.