NikSam
01-02-2014, 12:34 PM
On Dec 30, Panamanian government passed a law (N: 120 of 2013) (http://www.gacetaoficial.gob.pa/pdfTemp/27443_A/44901.pdf)
which makes all income by Panamanian companies within and outside country taxable.
A measure which will destroy an offshore infrastructure and in future would require to destroy banking and corporate privacy in order to enforce this law.
Source: New Panama tax law shocks businesses and expats (http://www.newsroompanama.com/business/6958-new-panama-tax-law-shocks-businesses-and-expats.html)
The law is apposed by many and has a big possibility of being revoked, but it is nice no notice that offshores more and more
choosing on which side they should be, criminals or fair economic development.
which makes all income by Panamanian companies within and outside country taxable.
A measure which will destroy an offshore infrastructure and in future would require to destroy banking and corporate privacy in order to enforce this law.
Source: New Panama tax law shocks businesses and expats (http://www.newsroompanama.com/business/6958-new-panama-tax-law-shocks-businesses-and-expats.html)
The law is apposed by many and has a big possibility of being revoked, but it is nice no notice that offshores more and more
choosing on which side they should be, criminals or fair economic development.