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Is Panama dead?

 
 

1) The treaty is clearly one-sided, designed for the US government to obtain information from the Panamanian financial system about US taxpayers, not the other way around;

2) the requesting party (i.e. US government) does not need to provide detail on the targets of its requests;

3) the requesting party does not even need to have an immediate use for the information being requested, such as an imminent lawsuit or criminal tax investigation;

4) information about beneficial ownership of corporations and foundations is also fair game;

5) the sharing of information is retroactive– they can request information from years ago as long as the records exist.

 

1 Comments in Response to

Comment by Ed Price
Entered on:

No big deal here. Life just becomes a little more complicated

In the States, if you set your affairs in proper order, there is no financial problem with taxes or anything else. Same with Panama.

See http://safeassetprotection.net/, your one-stop shop for all your Panamanian artificial entity needs.

:)


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