EU blacklists Panama as Tax Haven
The EU Economy and Finance ministry has added Panama to their tax heven ’black’ list. The list created in 2018 was recently revised and approved Tuesday February 18th 2020.
Panama has been placed on the list of "non-cooperative countries in fiscal matters" along with 11 other countries, which are Cayman Islands, Palau, Seychelles, American Samoa, Cayman Islands, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the US Virgin Islands and Vanuatu.
In placing Panama on this list, the EU considers that there are still regulatory and legislative deficiencies in the Panamanian system.