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(CNN Spanish) - The Council of the European Union updated its black list of tax havens and again included Panama, a country that had been removed from the list at the beginning of 2018.
"These countries or territories have not complied, within the agreed period, with the fiscal reforms to which they had committed themselves to the EU," the European Council explained in a statement.
To the list, which currently has 8 other countries and territories, was also added to the Cayman Islands, Palau and the Seychelles.
The elaboration of the list "is based on an exhaustive process of evaluation, monitoring and dialogue with some seventy third countries and territories," said Zdravko Marić, Vice President and Finance Minister of Croatia, member of the European Council.
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The list was created in December 2017 and is based on a continuous process in the establishment of criteria in accordance with international tax regulations, according to the EU statement.
At the moment, the Government of Panama has not reacted to the decision of the EU and CNN is working to obtain a comment on this.
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Tax havens