Panama: A Tax Haven For Online Gambling Income

A tax haven, Panama is bolstering its economy by attracting companies in the online gambling business. Traditionally, the country has focused its efforts on building its reputation as an international trading, banking, maritime, and services center. Liberal tax policies regarding online gambling income are another step towards attracting foreign investors. However, some loopholes exist in the tax net that need to be addressed.

The following questions have been addressed in this article:

How is income from online gambling operations taxed in Panama?
What are the persistent ambiguities in Panamanian Tax Law?
What requirements must be fulfilled by an Internet site?

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