The EU has removed eight countries, including Panama, from its new tax haven blacklist, after they pledged to address its concerns, in a move swiftly condemned by activists. The United Arab Emirates, Tunisia, Mongolia, Macau, Grenada and Barbados were also lifted from the list by finance ministers, in a move that comes just weeks after the bloc unveiled its original list of 17 non-EU nations.
The decision drew criticism from campaigners including Oxfam who say the EU’s commitment to tackle tax avoidance after the “Panama Papers” leak last year has now been watered down.
“Eight jurisdictions have been removed from the EU’s list of non-cooperative jurisdictions for tax purposes, following commitments made at a high political level to remedy EU concerns,” an EU statement said.
