Key Takeaways
- • On 9 October 2026, EU finance ministers removed Panama from Annex I, the EU list of tax havens that refuse to cooperate with international tax authorities.
- • Panama had been on Annex I since February 2020 and was moved to Annex II, placing it alongside the British Virgin Islands.
- • The reclassification shows the EU sorting offshore jurisdictions into tiers based on their level of cooperation with tax authorities, rather than treating them uniformly.
Summary
On 9 October 2026, EU finance ministers removed Panama from Annex I, the list of tax havens that refuse to cooperate with international tax authorities. Panama had been listed there since February 2020. It was moved to Annex II, where it now sits alongside the British Virgin Islands.
The move fits the broader theme that offshore financial centres differ in transparency, taxation and regulation, and that the EU assesses them against distinct criteria. The available reporting is limited, and it does not detail the criteria behind the reclassification or the practical consequences for Panamanian entities or foreign investors.
The move fits the broader theme that offshore financial centres differ in transparency, taxation and regulation, and that the EU assesses them against distinct criteria. The available reporting is limited, and it does not detail the criteria behind the reclassification or the practical consequences for Panamanian entities or foreign investors.
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