The European Union (EU) has decided to keep Panama and ten other jurisdictions on its list of tax havens. This measure was taken by the European Commission, which reclassified Panama in Annex II of its list of tax cooperation. According to the European Commission, Panama has made significant progress in its commitment to international tax transparency standards, but there are still certain deficiencies that need to be addressed. Therefore, the country will continue to be closely monitored. The EU's decision to keep Panama on its list of tax havens could have implications for the country's trade and financial relations with member states. However, Panama will continue to work to meet international standards and improve its tax reputation. In response to this decision, the Panamanian government has reaffirmed its commitment to continue collaborating with the EU and other jurisdictions to strengthen its tax system and combat tax evasion. Panama's inclusion in Annex II is a reminder of the importance of maintaining an open and constructive dialogue with European and global authorities on tax issues.
