EU removes Panama and Vietnam from tax list
The two countries provisionally leave the blacklisted annex, pending new assessments by the OECD Global Forum.
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The Council of the European Union has removed Panama and Vietnam from the EU list of non-cooperative jurisdictions for tax purposes. Both countries will provisionally be moved to the separate annex for cooperating countries still awaiting assessment.
The EU list contains eight jurisdictions following Friday’s decision. They are American Samoa, Anguilla, Guam, Palau, Russia, the Turks and Caicos Islands, the US Virgin Islands and Vanuatu.
The removal does not mean that Panama and Vietnam are fully exempt from tax scrutiny. According to the Council, both countries will be included in Annex II, pending a new assessment by the OECD Global Forum on the exchange of tax information on request.
Panama had been listed in Annex I since February 2020. According to the Council, the country has reformed its regime for exempting foreign income and will be reassessed for compliance with international standards on the exchange of information.
Vietnam was added to the list in February 2026 after an OECD Global Forum assessment concluded that the country did not meet the required standards for information exchange. The EU says Vietnam subsequently carried out a series of reforms and will also undergo a new assessment.
Belize has also been removed from Annex II. According to the Council, the country received a positive assessment for its system of exchanging tax information on request. The EU says it has thereby fulfilled its previously undertaken commitments.
The list is not a universal ranking of tax havens. The EU uses the procedure to hold countries and territories to account for tax transparency, fair taxation and the implementation of international agreements against base erosion and profit shifting.
For companies, the decision mainly changes the tax-risk assessment of transactions and structures in the countries concerned. The precise consequences differ by EU member state and by national anti-abuse rule. Removing a country from Annex I therefore does not automatically mean that all additional checks disappear.
The Council updates the list twice a year. The next review is scheduled for February 2027. Until then, Panama and Vietnam will remain under EU scrutiny, while the OECD assessments will determine whether the reforms continue to meet international standards.
One story, several perspectives
What is established
- The EU has removed Panama and Vietnam from Annex I and moved them to Annex II.
- Both countries will undergo a new assessment by the OECD Global Forum.
- Following the decision, the EU list contains eight jurisdictions.
Left
Arguments Removing countries from the list should not be interpreted as proof that tax avoidance has been resolved. The EU should enforce minimum transparency and effective information exchange, even if this creates additional administrative burdens for companies.
Values Tax justice, public revenue and international equality.
Consequences More checks and stricter conditions could limit tax avoidance, but would increase compliance costs for cross-border businesses.
Centre
Arguments A step-by-step list with annexes combines pressure with cooperation. Reforms are rewarded, but the new OECD assessment prevents a country from disappearing completely from view immediately after a political decision.
Values Proportionality, predictability and international cooperation.
Consequences Companies gain greater clarity, while the EU retains the option of placing countries back on the blacklisted annex.
Right
Arguments The EU should restrict itself to concrete shortcomings in transparency and not undermine fiscal sovereignty through public blacklists. If reforms have been carried out, companies should be able to benefit from them quickly.
Values Competitiveness, national autonomy and limited regulatory burdens.
Consequences Fewer additional checks could facilitate trade and investment, but could also weaken pressure on countries to share tax information.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The formal changes have been directly confirmed by the Council of the EU. The article correctly distinguishes between removal from Annex I and placement in Annex II.
- confirmed Panama and Vietnam were removed from the EU list of non-cooperative jurisdictions on 9 October 2026. — This is stated in the Council’s official press release. source
- confirmed The EU list contains eight jurisdictions afterwards. — The Council lists the eight remaining jurisdictions. source
- confirmed Panama and Vietnam are moving to Annex II pending a new OECD assessment. — This is explicitly stated in the EU press release. source
- confirmed Belize was removed from Annex II following a positive assessment. — This was mentioned by the Council of the EU. source
- confirmed The EU list is updated twice a year. — This is stated in the Council’s background information. source
Editor's note
The formal status changes and conditions come from the Council decision. The term tax list is a journalistic abbreviation; officially, this is the EU list of non-cooperative jurisdictions for tax purposes.Sources
- Taxation: Council updates the EU list of non-cooperative jurisdictions for tax purposes — Raad van de Europese Unie
- EU removes Panama from tax haven blacklist — AFP, via NAMPA
- Timeline — EU list of non-cooperative jurisdictions — Raad van de Europese Unie
More on this in Dutch media
- RTL Nieuws — „belastingtransparantie panama”
- FD — „belastingtransparantie panama”
- AD — „belastingtransparantie panama”