Your Financial Secrets are (Still) Safe | The Sovereign Society

"Some of my Panamanian friends point out that the United States government (IRS) wants to force Panama to “open its books.” And that to do so would be “one way street” information sharing.

This is because the U.S. doesn’t have any tax information Panama wants!

That’s because Panama, unlike the United States, has a sensible “territorial tax system.” Panama doesn’t tax earnings outside its national borders. So Panama therefore doesn’t care what Panamanians earn in the U.S. or anywhere else."

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