Thursday, January 02 2014 @ 05:51 PM EST
Contributed by: Don Winner
This law will be of public order, and is retroactive from December 30, 2013.
The project will be presented on Monday, January 6, when the National Assembly restarts sessions in the regular period.
With this move the Government reaffirms its historic commitment to the principle of territoriality in the source for the purpose of calculating the income tax applies for both natural and legal persons operating within the territory of the Republic of Panama. (Critica)
Editor's Comment: So, they tried to slip in this thing about taxing worldwide income, and it got slapped down. They admit they "made a mistake" and now they make it go away. Nice try. Boy, that was stupid...