Complaint of the European Union towards Panama

There is palpable anger over the European Union’s decision to keep Panama on its list of tax havens, despite all the measures the country has taken. This arbitrary action, which seems more like an insult than a decision based on concrete facts, has caused deep anger in the hearts of those who helplessly see how their country is treated unequally and unfairly.

The main source of irritation is that the sacrifice Panama has made to comply with European Union recommendations is for the sake of complacency. For years, the country has worked to meet international standards in an effort to be a responsible player on the global financial stage.

But despite all these efforts, the European Union decided to keep Panama on the list of tax havens, flagrantly ignoring the progress made. This raises an uncomfortable question: what is the point of these lists if meeting international recommendations and standards is not enough to be excluded?

The loss of competitiveness that these actions have implied for the country and what is still on the list is frustrating. Panama has taken significant steps to adapt to the wishes of the EU, which has had a direct impact on its economy and ability to attract investment. But it seems that it was all for naught as the end result is that Panama is still stigmatized as a tax haven.

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The double standard is visible when we notice that other countries (like Ireland for example with its tax rate of 12.5% ​​and other tax benefits) are not included in these lists for good reason. What criteria are applied so selectively? Why are some countries allowed to be excluded from this list, while others, such as Panama, are unfairly kept on it?

It is crucial to remember that inclusion on this list has a real impact on Panama and its reputation on the international stage. The persistence of this tax haven designation affects the country’s ability to attract investment and undermines its efforts to be a responsible player in the global financial arena.

In short, the European Union’s decision to keep Panama on its list of tax havens is a flagrant insult and a display of double standards. The frustration and anger this creates is more than justified, as Panama has demonstrated its commitment to international cooperation and good tax governance. It is time for the EU to give Panama the fair treatment it deserves in the international community.