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Panama as a tax haven, the Glossary

The Republic of Panama is one of the oldest and best-known tax havens in the Caribbean, as well as one of the most established in the region.^[1]

58 relations: Advocacy group, Augusto Pinochet, Blairmore Holdings, British Virgin Islands, Capital gains tax, Caribbean, Centre for Tax Policy and Administration, Colón Free Trade Zone, Common Reporting Standard, Corporate tax, Entrepôt, Ferdinand Marcos, Foreign Account Tax Compliance Act, Foreign Affairs, Foreign exchange controls, Hay–Bunau-Varilla Treaty, Hay–Herrán Treaty, History Channel, Hong Kong, Inheritance tax, International business company, International Monetary Fund, Investopedia, Ireland as a tax haven, J.P. Morgan & Co., Jean-Claude Duvalier, Jeffrey Robinson, Ken Silverstein, Land registration, List of countries by tax rates, Manuel Noriega, Medellín Cartel, Mossack Fonseca, Non-governmental organization, OECD, Offshore financial centre, Panama, Panama Canal, Panama Canal Zone, Panama Papers, Presidency of Theodore Roosevelt, Private Eye, Prohibition in the United States, Ramón Fonseca Mora, Shareholder, Standard Oil, Tax avoidance, Tax haven, Tax Justice Network, Tax withholding, ... Expand index (8 more) »
Banking legislation
Economy of Panama
Whistleblowing

Advocacy group

Advocacy groups, also known as lobby groups, interest groups, special interest groups, pressure groups, or public associations, use various forms of advocacy or lobbying to influence public opinion and ultimate public policy.

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Augusto Pinochet

Augusto José Ramón Pinochet Ugarte (25 November 1915 – 10 December 2006) was a Chilean army officer and military dictator who ruled Chile from 1973 to 1990.

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Blairmore Holdings

Blairmore Holdings, Inc. was an offshore investment company established by Ian Cameron, father of former British Prime Minister, David Cameron. Panama as a tax haven and Blairmore Holdings are Money laundering and tax avoidance.

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British Virgin Islands

The British Virgin Islands (BVI), officially the Virgin Islands, are a British Overseas Territory in the Caribbean, to the east of Puerto Rico and the US Virgin Islands and north-west of Anguilla.

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Capital gains tax

A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset.

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Caribbean

The Caribbean (el Caribe; les Caraïbes; de Caraïben) is a subregion of the Americas that includes the Caribbean Sea and its islands, some of which are surrounded by the Caribbean Sea and some of which border both the Caribbean Sea and the North Atlantic Ocean; the nearby coastal areas on the mainland are sometimes also included in the region.

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Centre for Tax Policy and Administration

The Centre for Tax Policy and Administration is part of the Secretariat of the Organisation for Economic Co-operation and Development in France. Panama as a tax haven and Centre for Tax Policy and Administration are international taxation.

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Colón Free Trade Zone

The Colón Free Trade Zone is a free port in Panama dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean. Panama as a tax haven and Colón Free Trade Zone are economy of Panama.

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Common Reporting Standard

The Common Reporting Standard (CRS) is an information standard for the Automatic Exchange Of Information (AEOI) regarding financial accounts on a global level, between tax authorities, which the Organisation for Economic Co-operation and Development (OECD) developed in 2014. Panama as a tax haven and Common Reporting Standard are international taxation.

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Corporate tax

A corporate tax, also called corporation tax or company tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities.

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Entrepôt

An entrepôt or transshipment port is a port, city, or trading post where merchandise may be imported, stored, or traded, usually to be exported again.

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Ferdinand Marcos

--> Ferdinand Emmanuel Edralin Marcos Sr. (September 11, 1917 – September 28, 1989) was a Filipino politician, dictator and kleptocrat who served as the tenth president of the Philippines from 1965 to 1986.

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Foreign Account Tax Compliance Act

The Foreign Account Tax Compliance Act (FATCA) is a 2010 U.S. federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indications in records of birth or prior residency in the U.S., or the like, and to report such assets and identities of such persons to the United States Department of the Treasury. Panama as a tax haven and foreign Account Tax Compliance Act are international taxation.

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Foreign Affairs

Foreign Affairs is an American magazine of international relations and U.S. foreign policy published by the Council on Foreign Relations, a nonprofit, nonpartisan, membership organization and think tank specializing in U.S. foreign policy and international affairs.

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Foreign exchange controls

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents, on the purchase/sale of local currency by nonresidents, or the transfers of any currency across national borders.

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Hay–Bunau-Varilla Treaty

The Hay–Bunau-Varilla Treaty (Tratado Hay-Bunau Varilla) was a treaty signed on November 18, 1903, by the United States and Panama, which established the Panama Canal Zone and the subsequent construction of the Panama Canal.

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Hay–Herrán Treaty

The Hay–Herrán Treaty was a treaty signed on January 22, 1903, between United States Secretary of State John M. Hay of the United States and Tomás Herrán of Colombia.

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History Channel

History (stylized in all caps), formerly and commonly known as the History Channel, is an American pay television network and flagship channel owned by A&E Networks, a joint venture between Hearst Communications and The Walt Disney Company's General Entertainment Content Division.

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Hong Kong

Hong Kong is a special administrative region of the People's Republic of China.

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Inheritance tax

International tax law distinguishes between an estate tax and an inheritance tax.

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International business company

An international business company or international business corporation (IBC) is an offshore company formed under the laws of some jurisdictions as a tax neutral company which is usually limited in terms of the activities it may conduct in, but not necessarily from, the jurisdiction in which it is incorporated. Panama as a tax haven and international business company are offshore finance.

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International Monetary Fund

The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.

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Investopedia

Investopedia is a global financial media website headquartered in New York City.

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Ireland as a tax haven

Ireland has been labelled as a tax haven or corporate tax haven in multiple financial reports, an allegation which the state has rejected in response. Panama as a tax haven and Ireland as a tax haven are international taxation.

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J.P. Morgan & Co.

J.P. Morgan & Co. is an American financial institution specialized in investment banking, asset management and private banking founded by financier J. P. Morgan in 1871.

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Jean-Claude Duvalier

Jean-Claude Duvalier (3 July 19514 October 2014), nicknamed "Baby Doc" (Bébé Doc, Bebe Dòk), was a Haitian politician who was the President of Haiti from 1971 until he was overthrown by a popular uprising in February 1986.

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Jeffrey Robinson

Jeffrey Robinson (born October 19, 1945) is an American author of 30 books.

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Ken Silverstein

Ken Silverstein is an American journalist who worked for the Los Angeles Times as an investigative reporter, for The Associated Press in Brazil, and has written for ''Mother Jones'', Washington Monthly, The Nation, ''Slate'', and Salon and Harper's Magazine.

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Land registration

Land registration is any of various systems by which matters concerning ownership, possession, or other rights in land are formally recorded (usually with a government agency or department) to provide evidence of title, facilitate transactions, and prevent unlawful disposal.

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List of countries by tax rates

A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.

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Manuel Noriega

Manuel Antonio Noriega Moreno (February 11, 1934 – May 29, 2017) was a Panamanian politician and military officer who was the de facto ruler of Panama from 1983 to 1989.

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Medellín Cartel

The Medellín Cartel (Cártel de Medellín) was a powerful and highly organized Colombian drug cartel and terrorist organization originating in the city of Medellín, Colombia, that was founded and led by Pablo Escobar.

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Mossack Fonseca

Mossack Fonseca & Co. was a Panamanian law firm and corporate service provider. Panama as a tax haven and Mossack Fonseca are offshore finance.

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Non-governmental organization

A non-governmental organization (NGO) (see spelling differences) is an organization that generally is formed independent from government.

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OECD

The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.

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Offshore financial centre

An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." "Offshore" is not always literal since many Financial Stability Forum–IMF OFCs, such as Delaware, South Dakota, Singapore, Luxembourg and Hong Kong, are landlocked or located "onshore", but refers to the fact that the largest users of the OFC are non-residents, i.e. Panama as a tax haven and offshore financial centre are international taxation, offshore finance and tax avoidance.

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Panama

Panama, officially the Republic of Panama, is a country in Latin America at the southern end of Central America, bordering South America.

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Panama Canal

The Panama Canal (Canal de Panamá) is an artificial waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, cutting across the Isthmus of Panama, and is a conduit for maritime trade. Panama as a tax haven and Panama Canal are economy of Panama.

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Panama Canal Zone

The Panama Canal Zone (Zona del Canal de Panamá), also simply known as the Canal Zone, was a concession of the United States located in the Isthmus of Panama that existed from 1903 to 1979.

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Panama Papers

The Panama Papers (Papeles de Panamá) are 11.5 million leaked documents (or 2.6 terabytes of data) that were published beginning on April 3, 2016. Panama as a tax haven and Panama Papers are Money laundering, offshore finance, tax avoidance and Whistleblowing.

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Presidency of Theodore Roosevelt

The presidency of Theodore Roosevelt started on September 14, 1901, when Theodore Roosevelt became the 26th president of the United States upon the assassination of President William McKinley, and ended on March 4, 1909.

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Private Eye

Private Eye is a British fortnightly satirical and current affairs news magazine, founded in 1961.

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Prohibition in the United States

The Prohibition era was the period from 1920 to 1933 when the United States prohibited the production, importation, transportation, and sale of alcoholic beverages.

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Ramón Fonseca Mora

Ramón Fonseca Mora (14 July 1952 – 8 May 2024) was a Panamanian novelist, lawyer and co-founder of Mossack Fonseca, a former law firm based in Panama with more than 40 offices worldwide.

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A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation.

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Standard Oil

Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911.

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Tax avoidance

Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law.

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Tax haven

A tax haven is a term, often used pejoratively, to describe a place with very low tax rates for non-domiciled investors, even if the official rates may be higher. Panama as a tax haven and tax haven are international taxation, offshore finance and tax avoidance.

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Tax Justice Network

The Tax Justice Network (TJN) is a British advocacy group consisting of a coalition of researchers and activists with a shared concern about tax avoidance, tax competition, and tax havens. Panama as a tax haven and tax Justice Network are international taxation and tax avoidance.

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Tax withholding

Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. Panama as a tax haven and tax withholding are international taxation.

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The New York Times

The New York Times (NYT) is an American daily newspaper based in New York City.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of the continental mainland.

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United States

The United States of America (USA or U.S.A.), commonly known as the United States (US or U.S.) or America, is a country primarily located in North America.

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United States as a tax haven

In 2010, the United States implemented the Foreign Account Tax Compliance Act; the law required financial firms around the world to report accounts held by US citizens to the Internal Revenue Service. Panama as a tax haven and United States as a tax haven are banking legislation, international taxation and offshore finance.

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References

[1] https://en.wikipedia.org/wiki/Panama_as_a_tax_haven

, The New York Times, United Kingdom, United States, United States as a tax haven, United States Department of State, Vice (magazine), Vice News, William Nelson Cromwell.

Panama as a tax haven, the Glossary

Table of Contents

See also

Banking legislation

Economy of Panama

Whistleblowing

References