London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Panama included in the European Commission list of non-cooperative tax jurisdictions

Panama included in the European Commission list of non-cooperative tax jurisdictions

In addition to Panama and Nicaragua, Brussels added the Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar and Zimbabwe to the list.
The European Commission presented its new methodology to fight money laundering and terrorist financing on Thursday May 7, and included Panama and Nicaragua on list of non-cooperative tax jurisdictions.

"We need to end the dirty money that infiltrates our financial system," said Commission Vice President Valdis Dombrovskis.

The European Commission (EC) on Thursday included Panama and Nicaragua in its new list of non-cooperative tax jurisdictions, along with 10 other countries.

In addition to Panama and Nicaragua, Brussels added the Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica, Mauritius, Mongolia, Myanmar and Zimbabwe to the list.

Along with those twelve countries that the Community Executive added today, Afghanistan, Iraq, Vanuatu, Pakistan, Syria, Trinidad and Tobago, Uganda and Yemen remain on the list.

However, the EC stated that it is still analyzing the situation in Afghanistan, Iraq, Trinidad and Tobago or Vanuatu, despite the fact that they remain on the list.

In February of last year, the Commission Executive already included Panama in a list of countries with regulations that could facilitate money-laundering and financing of terrorism, along with 22 other states and jurisdictions around the world.

However, the member states of the European Union rejected this repertoire, considering that its elaboration was not transparent and sufficient communication was not maintained with the countries included.

After that decision of the member states, the European Commission had to present a new list and methodology behind it, which they now have done.

The list published on Thursday is not yet based on the updated methodology, since the new method requires contacting the countries that could become part of the repertoire due to their deficiencies in the fight against money laundering and terrorist financing.

Brussels explained in a statement that in the absence of applying the new methodology, it has revised its list "taking into account the development of events at the international level since 2018.

The new list is "better aligned" with the ones published by the Financial Action Task Force (FATF).

In accordance with the EU directive against money laundering, the European Commission must identify "high risk third countries with strategic deficiencies in their regimes against money laundering and terrorist financing".

Banks and other financial institutions have to take extra precautions when transacting with those third countries.

In any case, the inclusion in the list does not imply the application of sanctions, restrictions in commercial relations or inability to access development aid.

The updated list will now be sent to the European Parliament and the EU Council for approval within one month, although an extension of another month is possible.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×