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...
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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.
Despite slower GDP growth of 6.2% in 2014, according to the Ministry of Economy and Finance, Panama remains one of Latin America’s fastest growing economies, a trend set to continue in coming years with the IMF forecasting average annual growth of around 6.5% over the next five years.
Articles & Analysis | Changes to Indonesia's tax system and regulations for potential investors from The Report: Indonesia 2015
The Indonesian tax system is based on three primary laws: the General Tax Provisions and Procedures ( Ketentuan Umum dan Tata Cara Perpajakan, KUP) Law, the Income Tax Law, and the Value-Added Tax (VAT) and Luxury Sales Tax (LST) Law. These laws are routinely amended in order to accommodate the country’s rapidly changing business environment, as well as to support the...
Interviews & Viewpoints | Ay Tjhing Phan, Tax Leader, PwC, on tax implications for infrastructure investment: Viewpoint from The Report: Indonesia 2015
With the new government having successfully reduced fuel subsidies and revised the national budget for FY 2015, the external focus is now expected to shift to the implementation of its plans for infrastructure development. That focus will likely be on the disbursement of additional funds for infrastructure spending and the efforts of the administration to leverage...
This chapter examines Indonesia’s tax environment, focusing on changes to the tax system and regulations for potential investors. It also contains a viewpoint from Ay Tjhing Phan, Tax Leader, PwC.