By Mariordo [CC BY-SA 3.0] via Wikimedia Commons
On Wednesday, the government said that Panama recently recalled its ambassador to the European Union from Brussels for consultations following the inclusion of the Central American country on a European Union blacklist of countries that are deemed to be tax havens.
On Tuesday, Finance ministers of the European Union adopted a blacklist of seventeen jurisdictions that are deemed to be tax havens, in an unusual step to battle against worldwide tax avoidance, although they did not come to an agreement regarding the financial levies for the listed countries.
In a statement, the government stated: “Given the unfortunate incorporation of the country in this discriminatory list, the Republic of Panama has decided to call its Ambassador to the European Union, Dario Chiru, to assess the steps to be followed moving forward.”
The list included Bahrain, American Samoa, Grenada, Barbados, South Korea, Guam, Marshall Islands, Macau, Namibia, Mongolia, Saint Lucia, Palau, Trinidad and Tobago, Samoa, the United Arab Emirates (UAE), and Tunisia.
On Wednesday, the government said that the government of the Caribbean islands of Trinidad and Tobago stated that it would soon bring two bills to parliament in order to reform its tax codes. Passage of the bills could help it get excluded from the blacklist of the European Union.
In a statement, the attorney general of the country said: “The Government of Trinidad and Tobago shares the goals of the EU with respect to fighting tax abuse and reassures that we will act with alacrity on this matter.”