Panama fights to get off the "Tax Haven" list.

[Harpy Eagle]

Panama Threatens to Veto EU Tenders If Not Removed from Tax Haven List – Newsroom Panama

newsroompanama.com

The President of the Republic, José Raúl Mulino, threatened on Tuesday, October 22, to veto European Union (EU) companies from future tenders in Panama if the European bloc does not remove him from its list of tax havens.


Good for him. These list are often the results of actions taken long in the past and are not updated often enough. I hope this gets him some traction in the UE parliament otherwise China will gain even greater foothold there.

 

[JGalt]

What's wrong with being considered a tax haven? Investopedia sure likes them.

Why Is Panama Considered a Tax Haven?

• Panama's legal and tax structures make it a pure tax haven.
• Panama imposes no income, corporate, capital gains, or estate taxes on offshore entities that only engage in business outside of the jurisdiction. Offshore companies can engage in business locally—a rare perk—but will pay local taxes as a result.
• Panama has strict banking secrecy laws designed to protect the privacy of account holders.
• Panama also has no tax treaties with any other country and no exchange control laws.

 

[Harpy Eagle]

What's wrong with being considered a tax haven? Investopedia sure likes them.

Why Is Panama Considered a Tax Haven?

• Panama's legal and tax structures make it a pure tax haven.
• Panama imposes no income, corporate, capital gains, or estate taxes on offshore entities that only engage in business outside of the jurisdiction. Offshore companies can engage in business locally—a rare perk—but will pay local taxes as a result.
• Panama has strict banking secrecy laws designed to protect the privacy of account holders.
• Panama also has no tax treaties with any other country and no exchange control laws.

The EU uses the list to put sanctions on countries on the list.

 

[JGalt]

The EU uses the list to put sanctions on countries on the list.

The European Union can go to hell, as far as I'm concerned. They're a big globalist organization who thinks they have the right to tell everyone where they can invest their money, and where they can't.

Tax Haven Countries 2024

 

[Harpy Eagle]

The European Union can go to hell, as far as I'm concerned. They're a big globalist organization who thinks they have the right to tell everyone where they can invest their money, and where they can't.

Tax Haven Countries 2024

Sounds a lot like the US.

But it is cool when we do it

 

[JGalt]

Sounds a lot like the US.

But it is cool when we do it

I don't make the rules here.

 

[Harpy Eagle]

I don't make the rules here.

"of the people and for the people"

man, what a naïve statement that turned out to be