Ecuador Forum

shawnnn
Joined 2013
Posts: 201

10 years ago

Maybe Panama won't be so special anymore.....wow

10 years ago

Panama passes law to tax worldwide income
Tue Dec 31, 2013 5:14 am (PST) . Posted by:steventbarnettAccording to this mornings La Prensa (pg 5A) the Panama assembly has passed (and it has been signed by the president) an amendment to the Codigo Fiscal that will make worldwide income subject to Panamanian income tax. In other words, they want to do what the US does (but vitually no other country does) by taxing any of your income anywhere in the world.

This will be a definite game changer for most expats, as well as many Panamanians. This was passed during the extraordinary sessions of the Assembly, with virtually no debate and no notice. According to the article it may affect hundreds of thousands of corporations as well as individuals.

Perhaps the brown stuff is about to hit the fan.

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