The EU has removed Panama and Vietnam from its list of non-cooperative jurisdictions for tax purposes following reforms to their tax information exchange frameworks, while eight jurisdictions remain on Annex I.
The European Economic and Financial Affairs Council (ECOFIN) decided on 9 October 2026 to remove Panama and Vietnam from the EU list of non-cooperative jurisdictions for tax purposes.
Panama had occupied the list since February 2020. The country removed a harmful foreign-source income exemption that blocked information exchange. The OECD Global Forum granted Panama a new compliance review, prompting the Council to shift it to Annex II (a monitoring status) pending that assessment.
Viet Nam joined the list in February 2026 following a Global Forum review that found gaps in its tax information exchange procedures. After implementing reforms, the country also secured a new Global Forum review and moved to Annex II while that process continues.
Eight jurisdictions remain on Annex I
The EU maintains eight countries on Annex I, the highest-risk category. These jurisdictions either fail to meet agreed international tax standards or have not fulfilled governance commitments within specified timeframes.
The Council approved an updated state of play document (Annex II) alongside the list revision. This document tracks countries making progress toward compliance. Belize received positive recognition from the Global Forum for its tax information exchange systems and was removed from Annex II after fulfilling its commitments.
Next review scheduled for early 2027
The Council’s code of conduct group handles all updates and engages directly with jurisdictions to help strengthen their legal frameworks. Cezary Krysiak, appointed to chair the group in September 2026, oversees these negotiations and coordinates with the OECD and other international bodies.
The Council reviews the list twice each year. The next revision is scheduled for February 2027.
