After publishing the first article on the frequently asked questions on tax, we understood that this topic is as interesting as it is necessary. There are some fundamental questions, like what is the corporate tax rate, or what taxes are deducted from your paycheck, that may be more or less challenging yet they are always key. Your knowledge about taxes may vary, you can very well know what is the capital gains tax rate you pay, or you may be barely starting to understand this world. Either way, it helps to dig into the basic questions so that we can move forward and understand more advanced concepts. You may be wondering: why do I need to know what companies do taxes if I am an employee? Or why should I care about what is the corporate tax rate if I have an accountant? For starters, if you don't own a company, you still have to file your taxes every year. If you are an employee, the employer currently takes care of this for you, but wouldn't you want to know what taxes are deducted from your paycheck? Same thing for company owners who rely on an accountant. If you have found an outstanding one, good for you! This is indeed important, but so is you knowing the basics of what your company is paying or not, what should be paying or not. Without further to do, we introduce you to these frequently asked questions.

When thinking about nomad capitalist services and global structures, there's a word that never ceases to float around in the air: this word is “tax”. For many, especially those with different types of income, taxation remains a mystery and those with complex affairs mostly rely on a professional to do their taxes. In some cases, the question can be simplified through flat fees, in others, the employer acts as an agent retaining the corresponding amount right from the wage. Nevertheless, the matter continues to be important because it includes the possibility of applying exemptions, double taxation treaties, or deductions. Best case scenario, the reader has somebody who knows what types of income are there and how to tax them, but the person has no idea of what types of income tax they're paying or why. 

Tax residency is a crucial concept for both individuals and businesses, as it determines where you are liable to pay taxes. It can be a complex issue, particularly for those who live or work in multiple countries, and it affects how much tax you pay on your global income. Understanding the intricacies of tax residency rules is important for anyone engaged in international business, employment, or investments. This article delves into the fundamental aspects of tax residency, explaining its significance, how it is determined, and the implications for taxpayers worldwide.

Panama has become one of the most attractive destinations for individuals seeking favorable tax conditions, primarily due to its territorial tax system. Unlike many other countries, Panama does not tax its residents on worldwide income. This key advantage, combined with straightforward residency programs, makes Panama an appealing option for retirees, investors, and professionals. In this article, we will explore how to get tax residency in Panama and the significant benefits it offers.

In the nomad capitalist world, taxes are an important matter. In fact, they are to be taken seriously by everyone, but the implications of international structures take the situation to whole new levels of complexity. What is the federal tax rate in my country? What is employment tax? What is taxable income and what are the deductions? With these Frequently Asked Questions, we want to go back to the basics of taxation. At the end of the day, you can’t design an elaborate plan without knowing your basics. What is federal income tax? You’ve probably heard these words many times. They describe those taxes that are due at a federal level.

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.