Panama exits EU tax haven black list

PANAMA has been removed  from the European Union’s  tax haven black list  that was published in December

The Ministers of Economy and Finance of the EU (Ecofin) eliminated  Panama from the list along with seven  7 other jurisdictions: South Korea, United Arab Emirates, Barbados, Grenada, Macau, Mongolia and Tunisia.

The Economy Ministers of the 28 countries of the European Union reported  that the declassification is “justified” by an “analysis of experts on the commitments assumed by these jurisdictions to address the deficiencies identified by the EU “.

They have underlined as the main motive the commitments acquired at “high political level” o solve the doubts of the community block.

Panama delivered a letter a few weeks ago with these promises to the EU, whose content has not been released .

“Our process for making the list is already proving worthwhile.”  said Bulgarian Finance Minister Vladislav Goranov,  who currently  holds the presidency of Ecofin. “Jurisdictions around the world have worked hard to make commitments to reform their fiscal policies. Our objective is  to promote good global governance.”

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