I've spent a significant amount of time lately trying to understand the tax laws in Panama as they relate to "Panama Sourced Income". Alas, I must inquire here because I keep getting confused.
As an US Citizen, working for a US based company.. if I were to relocate to Panama and continue to work for that same company as a telecomuter, that would be considered non-panimanian sourced income as I understand it... and thus not taxable.
but I also read that if you stay in Panama over 70% of the time during a given year, that's no longer the case and you then would have to pay income taxes?
Anyone have any first hand knowledge of this? I surely appreciate any comments/input or suggestions
-ib