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Panama Targets Shell Companies with New 15% Tax Levy
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Subscribe02 JUN 2026 / ECONOMY
Panama has implemented a 15% tax on certain types of foreign income earned by offshore companies with no demonstrable economic activity in the country. The decision was a response to international pressure, particularly from the European Union, to end Panama's reputation as a tax haven, in a broader context of increasing global demand for tax transparency.
Panama just sent the offshore world a polite but expensive message: if your company lives here only on paper, the free ride may be over. For decades, Panama’s territorial tax system made it a favorite parking spot for foreign wealth, holding companies, an...
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