What would you say if we asked you to name one concept that is common to all times, countries, and cultures? When we go a little deeper into our society’s essence there are very few aspects that we can pinpoint as common denominators defining people's lives in the modern world, in Roman times, or in ancient Egypt. Probably the word that we will write next is the one that you least expected: tax. Whether we like it or not, it’s something that everyone accepts naturally, and this makes sense since taxes have been ingrained in society since the very beginning. 

International taxation is one of our favorite topics as it concerns everyone who wants to grow their businesses beyond previously given borders. Also, those who live abroad must have a clear understanding of where to pay taxes, and we highly recommend setting up the structure with an international tax advisor. In the meantime, we share this piece on the three basic types of tax residency that every expat should know.

The question of “how to do your taxes” is important if you want to be in full compliance both at a personal and corporate level. “How to file your taxes” is a topic that concerns both individuals and entities. Luckily, we are in contact with best-in-class experts in Panama who have agreed to explain the essence of personal tax in this business-oriented country. 

Since its implementation, CRS has been a big question mark for many. Having an international bank account today means that you have to deal with CRS banking, but this doesn't have to be as intimidating as it sounds. International business banking is ideal for those who want to have access to new currencies and investments. If you're thinking of international banking as your solution for the new year don't let CRS stop you.

Taxes are a major concern for anyone, and this is why a solid financial plan must consider how to save on taxes. A popular strategy consists of getting tax residency in a territorial taxation country and establishing one’s largest assets outside of this jurisdiction. Let's analyze how to lower taxable income through tax reduction strategies like this one. Every country has its tax system, the difference lies in how they interpret a person's relation to the country and hence the tax responsibility. 

No businessperson should underestimate the importance of tax residency, however, this concept may be hard to understand, thus creating a field where misconceptions can grow freely. When it comes to why is tax residency useful there are many aspects to consider, and this includes a deep understanding of the matter. Naturally, the best way to establish tax residency effectively in low-tax jurisdictions is through a certified expert. In this regard, providing oneself with the right advice is not negotiable. 

Panama is more than an attractive destination for business: it’s a great place for those looking for tax residency and low-tax solutions. However, amidst the allure, several misconceptions about tax residency in Panama have emerged. In this article, we will shed light on common myths surrounding this country’s tax residency and reveal the truth behind them.

If you ever wonder how to pay less tax, you're not alone. In one way or the other, nobody is happy about paying taxes because they can translate into a serious decrease in your wealth. So how to stop paying taxes? Is this even possible? How to generate some tax savings so that the overall burden is lightened?

Mundo encourages and helps business people all around the world to legally protect their wealth in perpetuity. As we pointed out several times, asset protection is our commitment as a path towards ultimate freedom. 

Panama is a great place to establish your tax residency. This Latin American country is located in Central America and is bordered by Costa Rica and Colombia.