Tax Advisory in Panama

Personal income tax in Panama is based on a sliding scale, ranging from a minimum of 7% after the first $9,000, to a maximum rate of 27%. Regardless of your residency status, the tax is only applied to Panamanian-sourced income. Taxable income includes wages and salaries, other business profits, pensions/bonuses, and income from copyrights, royalties, trademarks, stock sales, bonds, and securities.

Tax calendars are unique for each and every country around the globe, so when expats do not put the dates right on their documents, complications such as penalties are bound to occur. Offering expert tax guidance to expats in Panama is UK-based specialist Andrew Baker, whose nearly four-decade professional experience has made him a trusted name in the industry.

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Many expats choose to live in Panama for its light tax burdens. The personal income tax rate ranges from 7% to 27%. All income earned within the country, including wages, business profits and royalties, are subject to Panamanian tax. Tax Advisory Expatriates extend assistance on tax returns, tax planning and other related matters.

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