Panama back on EU tax-haven blacklist

• The European Union on Tuesday put Panama back on its blacklist of tax havens after deciding the country had not done enough to meet global transparency standards.
• They join American Samoa, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the US Virgin Islands and Vanuatu on the list. The addition of the Cayman Islands represented the first time an overseas British territory was placed on the EU's blacklist.
• The European Union had removed Panama from its blacklist in 2018, shifting it to a halfway greylist after accepting the Central American's promises to comply with rules on sharing tax information in the wake of the 2016 "Panama Papers" revelations.

(Source: Bloomberg)