Panama has 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.
With a housing deficit of over 136,000 units and growing at around 15% per year, a huge market remains unsatisfied as few developers construct within the low-income segment. Government incentives, almost entirely restricted to assisting the consumer in purchasing a home, have fallen short of providing viable solutions on a large scale and...
As Panama’s agricultural sector is faced with direct competition from modern farms in the US and Europe, it is in need of an upgrade to its storage and transportation infrastructure. To this end, various initiatives have been proposed to bring production and handling in line with international levels. Besides emergency stop-gaps to accelerate...
Good health is always a sign of prosperity. Panama appears to have taken this motto to heart and is now determined to improve the country’s medical facilities, coverage and treatment, feats that do not come easily in a region historically afflicted by high rates of poverty and illness. At the height of its economic success and continued growth,...
Heavy government spending on new social programmes and overhauling the infrastructure network has amplified the importance of increasing public sector revenue, income and in particular tax collections. However, administrative strategy has focused on maintaining or even lowering tax rates across the board while simultaneously closing loopholes...
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