LatinNews Daily - 10 October 2025

*Panama’s economy ministry (MEF) has announced that Panama will continue to feature on the European Union (EU)’s list of non-cooperative jurisdictions for tax purposes which is due to be reviewed this month. Panama’s removal from such lists is a major priority for the government led by President José Raúl Mulino, which in July nonetheless hailed its departure from the EU’s list of countries with strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CFT). Yesterday Panama’s deputy foreign minister, Carlos Hoyos, was cited by national daily La Prensa as saying that Panama would be modernising its legislation on tax systems, with the aim of aligning itself with international standards. The same report cites the EU’s ambassador to Panama, Izabela Matusz, as saying that a key meeting would take place on 27 and 28 October in Brussels where tax lists would be revised while Panama’s removal from the list depends on two criteria: a satisfactory rating regarding information exchange from the Organisation for Economic Co-operation and Development (OECD)’s Global Forum on Transparency and Exchange of Information for Tax Purposes, and whether it had made the necessary adjustments to its tax regime to avoid double non-taxation. In August the Mulino government signed an agreement with its Ecuadorean counterpart led by President Daniel Noboa for the exchange of information for tax purposes which allows for Panama’s removal from Ecuador’s list of tax havens, on which it had been included since 2008.

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