EU removes Panama from tax haven blacklist

The European Union removed Panama from its list of non-cooperative tax jurisdictions on Friday. The decision follows improvements in Panama's tax information-sharing practices and the implementation of reforms regarding exemptions for foreign-source income. Vietnam was also removed from the list following a series of similar regulatory reforms, leaving eight jurisdictions currently designated as non-cooperative.

The removal marks a shift in the status of Panama, which had previously faced significant international scrutiny regarding its role as an offshore financial hub. The EU’s updated list reflects ongoing efforts to monitor global tax transparency and ensure jurisdictions adhere to international standards.