Key facts
- The EU removed Panama from its tax haven blacklist on Friday.
- Panama was removed after progress on sharing tax information and reforming foreign-source income exemptions.
- Vietnam was also removed after undertaking reforms.
- The updated list of non-cooperative jurisdictions now includes eight countries.
- The EU list was created in 2017 following scandals like the Panama Papers.
- Panama had previously been removed in 2018 and returned to the list in 2020.
The European Union removed Panama and Vietnam from its list of non-cooperative jurisdictions for tax purposes on Friday, citing progress in tax information sharing and reforms to harmful tax regimes. Panama's removal follows its commitment to international standards on the exchange of tax information and reforms to its foreign-source income exemption regime. Vietnam also undertook a series of reforms leading to its removal.