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“Bocas Del Toro, Panama – A nature lover’s paradise and one of Panama’s most popular tourist spots, Bocas’ 5,000 residents are still way outnumbered by the surrounding wildlife. Enjoy the town’s laid-back vibe and easy access to the region’s nine major islands, 52 keys and roughly 200 tiny islands. There are two marinas for those who want to explore this archipelago’s treasures. And reader Dan Cranney reminded us that “this island archipelago off the Caribbean coast of Panama is one of the few hurricane-free places in the Caribbean.

Panama is often highlighted as an excellent destination for business & investment, a small city in Central America with a strong dollar economy, a stable banking system and laws that incentivate foreign investment.  But one of the sometimes overlooked highlight of Panama is the beautiful landscapes and amazing tourism destinations, such as Kuna Yala, Bocas del Toro and Portobello, in the Atlantic side; Boquete, Volcán, El Valle mountain destinations and the beaches of the Pacific side, with their all inclusive high profile hotel chains.

Bocas del Toro is a strange mix of Caribbean culture with a high dose of American and European residents. As the article explains, it’s a combination of more than 200 islands of forest, beaches and wildlife, and some small towns.  It’s a perfect place to espace from the stress life of the city and an excellent change of scenery.

More info on Yachting Magazine

KPMG Panama regularly publishes a Newsletter with Tax, Legal and Financial advise.  On the latest issue, they listed the tax changes made on Law 31, published in the official gazette No. 26757-A.

One of these changes is the inclusion of AMIR, a monthly advance to the income tax:

A change concerning the monthly advance of income tax (Adelanto mensual del impuesto sobre la renta – AMIR) for which there is an exclusion provided for individuals and companies with taxable income of B/$36,000 (approximately U.S. $36,000) or less per year, with remittances due within the first 20 days of the month

Continue reading KPMG Tax News

The Panamanian government has two goal that made them approve the newly tax information exchange agreement with the United States:

1. To help win U.S. approval for a long-stalled bilateral trade agreement.
2. To add to the others tax treaties and double taxation accords with other nations needed to secure Panama’s removal from an OECD list of tax havens, opening it up to investors who had avoided listed countries.

Besides these two reasons, we will see on the implementation of this international rules of information exchange between USA and Panama, the real implications, problems and benefits for both countries and their trade and investment incomes in the future.

Read the complete article at Reuters