Panama Could Exit EU Fiscal Paradise List

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PANAMA  could be removed  from a European Union (EU) list  of  countries listed as fiscal paradises, no later than January 23, some seven weeks after it was included

A Reuter’s report on Monday, January  15  quoted sources inside the European Commission as saying there were moves to get several to get several jurisdictions. including Panama, off the list.

The first meeting of the Economic Affairs Council and Financial Institutions, (ECOFIN), an  EU organization in charge of relations with third parties, is set for January 23, according to the agenda of the Council of Europe.

It would be then when the ministers of the countries that make up the EU could take the definitive decision.

Commitment
According to the sources, the sudden change of direction has to do with a commitment “signed at a high political level” by Panama “to address the problems identified by the Council in its conclusions of December 5. ”

The country was included in the list of non-cooperative jurisdictions in tax matters because the EU considered that he had a harmful tax preferential regime.

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