Tax
From The Report: Panama 2015
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This chapter provides an overview of Panama’s tax regime, covering areas of particular interest to investors such as corporate and individual income tax, dividend tax, taxation treaties and import duties, among other areas. In addition, it features a viewpoint by Luis Laguerre, Partner at KPMG Panama, on tax treaties and Panama’s international financial services cluster.

Articles from this Chapter

Overview

A safe haven: The country has worked to ensure a favourable tax regime
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Panama utilises a territorial taxation system that levies taxes only on operations that take place or that have effects within the country’s territory. Income tax, in particular, is levied only on income that arises from a Panamanian source, regardless of the nationality or residence of the income recipient. Likewise, any service that a company established in Panama provided outside of the country would not be subject to income tax, as long as this service is not related to its taxable activities…

Viewpoint

Raising the standard: Luis Laguerre, Partner, KPMG in Panama, on tax treaties and Panama’s international financial services cluster
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Since its emergence from the ocean to unite North and South America, Panama has been the preferred crossroad of the Western Hemisphere. During the Spanish colonial period the fairs of Portobelo, located on the country’s Atlantic Coast, were very popular. Merchants from all over both continents visited them to sell and showcase their products. At that time, Panama was also the transit route for Peruvian gold being shipped to Spain. Similarly, during California’s gold rush the old Camino de Cruces,…