Thread: $$Taxes Taxes Taxes$$

Can someone inform me of the tax laws in Panama? If I were to work in Panama for a year would the Panamanian gov't tax my income? Also, what are the procedures so the US does not tax my income? Thanks.

Panama does not tax foreign source income. As US citizen who is a non-resident you are given an 85k exception from tex each year. Make sure you leave at a time so that you actually become tax exempt.....

Best, Ed
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Thanks,
What time would that be? For example, if leave in August I am assuming I would be taxed on my earnings in Panama from Aug to Dec. Is that correct?