EU will decide on Panama black listing next month

The ministers of Economy and Finance of the European Union (Ecofin) will meet on February 16 to deliberate whether to remove Panama from the ‘black’ list of tax havens in which it shares a position with 11 other countries: American Samoa, Anguilla, Barbados, Fiji Islands, Guam, Palau, Samoa, Trinidad and Tobago, Virgin Islands, Vanuatu, and Seychelles.

This was confirmed  Monday by sources from the bloc to La Prensa . As they have revealed, in principle the meeting will be face-to-face, as long as the health provisions and the evolution of the coronavirus pandemic allow it.

In the event of any type of impediment, the meeting will be virtual and the decisions on the so-called ‘list of non-cooperative jurisdictions in tax matters’ will be made in writing.

Panama’s financial legislation and its tax practice have been evaluated for a year by the Code of Conduct group, a department made up of technicians who analyze that the countries under review are in line with the transparency standards set.