Although Panama remains on the European Union (EU) list of non-cooperative jurisdictions, there are no immediate consequences for Panama. Provided no defensive measures are taken against Panama, the treatment of corporate structures including Panama and the application of double tax treaties signed with Member States of the EU will remain the same. On 22 February 2021, the Council of the European Union (the Council) updated the EU list of non-cooperative jurisdictions for tax purposes (the EU list) and kept Panama on the list. For more information on the inclusion of Panama on the list, see EY Global Tax Alert, Panama...