If there was a winner for the successful Summit of The Americas of all Latin American countries two weeks ago, was definitely Panama. Panama was the perfect host and his President Juan Carlos Varela. With the largest Bank center of the region, The largest hub of the Americas with COPA and its international connections, the…

President Juan Carlos Varela and Minister of Public Security, Rodolfo Aguilera signed Executive Order No. 535 of October 3, 2014. This Executive Decree allows 30 calendar days to apply for one of the new migration categories, also to apply if they have a job offer or plan to invest in Panama. These restricted nationalities are…

The Government of Panama and the Government of the United States of America implemented on October 31, 2012 the U.S. – Panama Trade Promotion Agreement or Free Trade Agreement between both countries. If you are interested in or are already exporting U.S.–made goods to Panama, the FTA is big news! And here is why: Tariffs…

The United States and Panama signed a trade promotion agreement, sometimes called a Free Trade Agreement (FTA), on June 28, 2007. Panama approved the TPA on July 11, 2007. The TPA was signed into law in the United States on October 21, 2011. U.S.-Panama FTA is a comprehensive free trade agreement that can result in…

Panama and France have agreed on a treaty to avoid double taxation. Deputy foreign Minister Frank de Lima closed the deal last week during his visit to Paris. The treaty could be signed in September, when Vice President and Foreign Minister Juan Carlos Varela is expected to make a trip to the European country, he…

As accountants know, for every debit there is a credit. The IRS found out about this axiom and the loophole it created. The “debit” is the basis in property when acquired by a related taxpayer under the basis rules of section 362. Effective June 24, 2011, they provide a new tax law on determining basis…

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