EU removes Panama from tax haven blacklist
Quick Look
Vietnam has been removed from the European Union's tax haven blacklist following a series of reforms, leaving eight non-cooperative jurisdictions on the updated list.
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Why It Matters
The EU tax haven list was created in 2017 following scandals like the Panama Papers.
Vietnam was also removed after undertaking a series of reforms. The updated list now contains eight “non-cooperative” jurisdictions: American Samoa, Anguilla, Guam, Palau, Russia, Turks and Caicos Islands, US Virgin Islands and Vanuatu.
“This update reflects a positive trend in compliance with international tax good governance standards,” the EU said in a statement.
The list was created in 2017 in the wake of a series of scandals, including the so-called Panama Papers that revealed how the world’s wealthy stashed assets in offshore companies, triggering scores of investigations around the globe.
Open Questions
- What specific reforms did Vietnam undertake?
