Panama Welcomes EU Blacklist Removal

by Mike Godfrey, Tax-News.com, Washington

23 January 2018

The Government of Panama has welcomed the country's removal from the EU blacklist of non-cooperative territories, following the EU Economic and Financial Affairs Council's endorsement of the decision on January 23.

In a statement, the Government said: "Panama was able to be removed from the 'non-cooperative' list in record time thanks to the technical, political, and diplomatic clarifications on its financial transparency policies provided by the Panamanian Government, which highlight how Panama has been executing on its roadmap for fiscal transparency, approved within the framework of the High Level Commission for International Financial Services (CANSIF) and with the participation of the private sector. The objective of the roadmap is to ensure the country's competitiveness and compliance with the highest global standards in fiscal and financial matters."

"We celebrate this decision, which recognizes our efforts to fully comply with all the international standards regarding financial transparency," said Panama's Vice President, Isabel de Saint Malo de Alvarado.

Minister of Economy and Finance Dulcidio de la Guardia, who presides over CANSIF, expressed his satisfaction at "the effectiveness of the Panamanian technical, diplomatic, and political efforts that achieved the rapid exclusion of Panama from the list and prevented European countries from imposing discriminatory measures against Panama because of their quick work."

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

To manage your mailing list preferences, please click here »