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Tax and Tax Information - Income Tax

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Tax and Tax Information * Income Tax

Panama: The Benefits of this Jurisdiction for your IBC   
Richard Price

Why use the jurisdiction of Panama for your IBC? Does 'no income tax', 'no capital gains tax' and 'no estate tax' capture your attention? If so, read on…


Panama constitution provides the highest levels of banking and corporate secrecy/privacy laws in the world. With Britain's proposed regulation for removal of bank and corporate book secrecy in the UK offshore territories, it is clear that Panama will remain one of the only secure offshore financial centers in terms of privacy and confidentiality that is not only respected, but vigorously protected by constitutional law. Panama has no mutual legal assistance treaties (MLAT's) for sharing of banking information with any other nation and does not recognize court rulings from other countries. In fact revealing banking information to third parties is a crime in Panama, punishable by imprisonment. There is no such thing as "piercing the corporate veil" in Panama. Panama Corporations offer "Bearer Shares", allowing shareholders to maintain 100% privacy and confidentiality.

Article to continue below----------------------------------------------

Tax Tips For The Unemployed (CNN Money)
Tax time can be a painful time for many of us, and it's especially tough for people without jobs. If you're unemployed, there are a few twists and turns in the tax code that can work to your benefit.

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Panama is a 100% Tax free Haven. Non-resident Panamanian International Business Corporations (IBC's) and Private Interest Foundations do not pay tax on any of their income (as indicated below), nor do they have any reporting requirements to the Panamanian government on non-Panamanian source income:


- No income tax

- No capital gains tax

- No interest income tax

- No sales tax

- No tax on issuance of corporate shares

- No tax to shareholders

- No stock sale or transfer tax

- No capital stock tax

- No property tax

- No estate tax

- No gift tax

- No stamp tax

- No succession tax

- No inventory tax

Article to continue below----------------------------------------------

No Blowing Smoke: Group Discusses SC Cigarette Tax (AP Via Yahoo! Finance)
Doctors and an anti-smoking group discuss efforts to raise South Carolina's 7-cent-a-pack cigarette tax that is the lowest in the nation.

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For more information about setting up your IBC in Panama, please visit our website: http://www.confidentialbanking.com/jurisdictions-panama.html


Richard Price is a partner of Liberty Enterprises Inc., a resource for offshore banking services. For more information about offshore banking, please visit the website http://www.confidentialbanking.com

What Other Authors say about Taxes

Purchase a Boat in 2006? It Could Earn You A Tax Deduction by Brandon Bissell

Purchase a Boat in 2006? It Could Earn You A Tax Deduction!If you purchased a boat in 2006, the sales tax paid could be deductible from your income taxes. The American Jobs Creation Act of 2004 gave taxpayers...

A Partial List Of Tax Deductibles by Carl LaFresnaye

The list of tax deductibles allowed by the IRS is so long and complicated that nobody seems to know exactly how many there are. Even Jeff A Schnepper's book How To Pay Zero Taxes, which is actually subtitled...

How to Use an Early Retirement Plan to Secure Your Future by Scott Taylor

<p>In fact many of these people had no intention of retiring and used these generous packages to move into second careers. They did not retire at all until much later, in their sixties. Nowadays,...

Fraudulent Tax Shelters - KMPG Goes Down Hard by Richard A. Chapo

In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars,...

When To Use A Tax Attorney by Carl LaFresnaye

While most people would not require the use of a tax attorney, those who own their own businesses or who have a multitude of assets are wise to consult a tax attorney. In addition to the accountant that...

Taxes and Bankruptcy: The Nuts and Bolts by Richard K. Gustafson, II

Taxes and Bankruptcy: The Nuts and BoltsThe filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy may eliminate some types of personal income tax liability. There are, however,...

Top 7 Ways to Reduce Income Taxes by Kristine McKinley

Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:1. Participate in company...

A Guide To Tax Forms by Carl LaFresnaye

Looking at the Internal Revenue Service's website (www.irs.gov) can be a bewildering experience. A vast array of tax forms greets you and figuring out which ones to use can be a chore. This guide is designed...


Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

To Join CPA Moms

Click for accredited member's reliablility report.

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Index of Articles about Taxes

What Other Authors say about Taxes

Purchase a Boat in 2006? It Could Earn You A Tax Deduction by Brandon Bissell

Purchase a Boat in 2006? It Could Earn You A Tax Deduction!If you purchased a boat in 2006, the sales tax paid could be deductible from your income taxes. The American Jobs Creation Act of 2004 gave taxpayers...

A Partial List Of Tax Deductibles by Carl LaFresnaye

The list of tax deductibles allowed by the IRS is so long and complicated that nobody seems to know exactly how many there are. Even Jeff A Schnepper's book How To Pay Zero Taxes, which is actually subtitled...

How to Use an Early Retirement Plan to Secure Your Future by Scott Taylor

<p>In fact many of these people had no intention of retiring and used these generous packages to move into second careers. They did not retire at all until much later, in their sixties. Nowadays,...

Fraudulent Tax Shelters - KMPG Goes Down Hard by Richard A. Chapo

In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars,...

When To Use A Tax Attorney by Carl LaFresnaye

While most people would not require the use of a tax attorney, those who own their own businesses or who have a multitude of assets are wise to consult a tax attorney. In addition to the accountant that...

Taxes and Bankruptcy: The Nuts and Bolts by Richard K. Gustafson, II

Taxes and Bankruptcy: The Nuts and BoltsThe filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy may eliminate some types of personal income tax liability. There are, however,...

Top 7 Ways to Reduce Income Taxes by Kristine McKinley

Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:1. Participate in company...

A Guide To Tax Forms by Carl LaFresnaye

Looking at the Internal Revenue Service's website (www.irs.gov) can be a bewildering experience. A vast array of tax forms greets you and figuring out which ones to use can be a chore. This guide is designed...