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# Panama Leaves EU Tax Blacklist, Remains Under Review
- URL: https://balboa.news/panama-leaves-eu-tax-blacklist-remains-under-review/
- Published: 2026-10-09T12:59:24.000Z
- Updated: 2026-10-09T12:59:24.000Z
- Author: Balboa News Desk
- Tags: Economy

The European Union removed Panama from its tax blacklist on October 9, ending more than six years in which the country was formally classified as a non-cooperative jurisdiction.

The EU Council said Panama had reformed what it considered a harmful exemption regime for income earned abroad. The reform addressed one of the central reasons Panama had remained in Annex I of the European list since February 2020.

However, the decision does not amount to complete clearance. Panama has been moved to Annex II, which covers jurisdictions cooperating with the EU but still awaiting reforms, evaluations or confirmation that international standards have been met.

The outstanding issue concerns Panama’s compliance with international rules for exchanging tax information upon request. The country is waiting for an in-depth review by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes.

Panama therefore no longer appears alongside the eight jurisdictions remaining in Annex I: American Samoa, Anguilla, Guam, Palau, Russia, the Turks and Caicos Islands, the United States Virgin Islands and Vanuatu.

The EU Council updates its list twice each year, with the next revision scheduled for February 2027\. That date does not guarantee Panama’s removal from Annex II because the outcome will depend on the timing and findings of the Global Forum review.

According to information provided by Panama’s Ministry of Economy and Finance to *La Prensa*, the government has requested an on-site evaluation during the first half of 2027\. No firm completion date has been announced.

The decision represents a significant improvement in Panama’s international tax position, but it does not automatically remove the country from other governments’ monitoring lists or certify full compliance with every transparency standard.

The revised EU list becomes formally official when published in the bloc’s Official Journal.

**Sources:** Council of the European Union announcement