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Panama off the blacklist of tax haven of the European Union

Panama has been taken off the list, since it managed to adequate their legislation up to European and international standards, which has been supervised by the technical teams of the community block. Additionally, the country has categorized tax evasion as a felony of the Penal code, and has regulated the activity of call centers and special regimens (Multinational Companies, Economic Special Area Panama-Pacific)

The decision was made in the Finance ministers meeting (EcoFin) in Brussles. “Today we complete our first comprehensive revision of the EU list of non-cooperative jurisdictions. Since it was first adopted, the list has shown its value to boost the UE’s agenda to improve global fiscal practices, fighting tax evasion and improving good and transparent governments: more than 30 jurisdictions have kept their commitment to approving fiscal reforms”, notes the current president, Eugen Teodorovici, Finance minister of Rumania.

At the end of 2017, the EU published a classification with the jurisdictions that were considered non-cooperative in fiscal matters. Days later, the European block placed the isthmus in Annex II, corresponding to the jurisdictions that had deficiencies identified but assumed a commitment to correct them.

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