War on Offshores - Panama

On Dec 30, Panamanian government passed a law (N: 120 of 2013) (http://www.gacetaoficial.gob.pa/pdfT...43_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

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.