The EU has removed Panama and Vietnam from the list of tax havens, following progress made in the field of good tax governance

The European Union has removed Panama and Vietnam from its tax haven list, a decision announced on Friday by the finance ministers of the 27 member states, who met in Luxembourg. The measure reflects the progress made by the two countries in aligning with international standards of good tax governance.

Panama was added to the EU’s blacklist in 2020, while Vietnam was added in February 2026. According to the European statement, the list update indicates a positive development in terms of compliance with international tax rules.

The EU instrument was created in December 2017, following the Panama Papers and LuxLeaks scandals, and aims to combat tax evasion by multinational companies and wealthy individuals. Countries included on the blacklist may face sanctions, including the freezing of European funds.

Following this decision, the list comprises eight countries and territories: American Samoa, Anguilla, Guam, Palau, Russia, the Turks and Caicos Islands, the U.S. Virgin Islands and Vanuatu. These jurisdictions do not comply with agreed tax standards or have failed to meet their commitments on good tax governance within the established deadline. The list is updated twice a year.