Panama's response to IRS scare tactics...Would Colombia do the same in the future I doubt it

jb_fastpitch says on Oct 19, 2009, 07:30:

As the US drives more and more of it's citizens away with punitive taxation and crippling regulation, they are forced to pressure other countries to help confiscate the ex-pats lawfully earned money.
This is really not necessary since the current administration does not need the revenue. They simply print more Obama dollars and go one their merry way. If they are not stopped soon, we will see an inversion of the echange rates between the COP and the USD.
It is one thing for the host country to tax the income of guest workers, I do not think think the US should tax it as well.
I hope Colombia will stand firm and not buckle to pressure from the US.

Choose Liberty, there is no such thing as equality.

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Aji1 says on Oct 19, 2009, 07:33:

jb, sadly, I would not count on it playing out that way at all.

I know not what course others may take; but as for me, give me liberty or give me death!

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jb_fastpitch says on Oct 19, 2009, 07:44:

Yeah Colombia is in a much more dificult situation. They must really get nervous when Obama gives Chavez all those big wet smooches. When they look to the treatment Honduras is getting from Obama and his leftie State Department they know they cannot trust the US as an ally.

Choose Liberty, there is no such thing as equality.

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excavator59 says on Oct 19, 2009, 11:23:

Is the IRS a terrorist organisation like the Farc ?

Life is like a Pubic Hair on a Toilet Seat (Sooner or Later you get Pissed Off)

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Aji1 says on Oct 19, 2009, 11:29:

Yes, except they want to dominate the world, not just Colombia

I know not what course others may take; but as for me, give me liberty or give me death!

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whitewidow says on Oct 19, 2009, 13:13:

panama is unlike any other country in the world when it comes to defending their banking secrecy laws. they in effect hold the "ace card". no other country can claim that. any guesses what that may be?

I'm no doper! I just play one on TV.

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bickerss says on Oct 19, 2009, 14:40:

A Canal?

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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whitewidow says on Oct 19, 2009, 16:09:

they have the keys to all international shipping around the globe. that is alot of leverage and effectively allows you to tell the OECD to fuck off.....

I'm no doper! I just play one on TV.

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sloopskipper says on Oct 19, 2009, 18:52:

Like the others, they will fold like a house of cards. They will not hold canal transits as hostage as there is too much income, as well as the tremendous debt to build the new locks. Plus, the banking system here, although not as bad as Colombia, is still a foken joke (so called secret, or not).

The IRS is opening an office here, in Panama City.

Seems that some people think "everybody's outa step but me".

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whitewidow says on Oct 20, 2009, 07:33:

panama is the only country that has held the oecd at bay, effectively. there are politics at play here that i will not divulge, but panama is still one of the best places in the world to keep your money safe and private.

are you aware of who holds the canal contracts? are you aware of who the financiers are? do you understand their relationship to the oecd?

I'm no doper! I just play one on TV.

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lampltr says on Oct 21, 2009, 01:05:

W.Widow, believe just recently Panama conceded ever so slightly to the OECD due to threats made to them.....Like you guy's thinking though!!
Panama's banking is pretty strict, try walking in as a "Gringo" to open an account now a days, I just thank my lucky stars I have had a decent relationship with them for 5 years now. Colombia, seems like they bend too much towards the West in regards to transparency. Banking is a bit difficult also today especially to gain loans, majority go to loan sharks or acquaintances to get funds.
Taxes are decent as far as we are concerned in Colombia, however add up all the assets to get the tax rate.....Locals a bit of a difficult time every year.

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sloopskipper says on Oct 21, 2009, 06:20:

Foreign, "U.S. owned Banks" are obligated to report the Social Security Numbers of U.S. Citizen depositors to the IRS..

People who refused to comply had their accounts sumarily closed, here in Panama:

http://poorbuthappy.com/colombia/post/offshore-accounts-and-irs-income...

Seems that some people think "everybody's outa step but me".

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whitewidow says on Oct 21, 2009, 06:29:

old news. much has transpired since then.

I'm no doper! I just play one on TV.

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sloopskipper says on Oct 21, 2009, 06:36:

Regarding U.S. expats and the IRS?

Seems that some people think "everybody's outa step but me".

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whitewidow says on Oct 21, 2009, 07:30:

regarding your PBH post above and it's media link

I'm no doper! I just play one on TV.

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Escape Artist says on Oct 21, 2009, 07:40:

interesting reading..... http://www.offshorelegal.org/

EA

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sloopskipper says on Oct 21, 2009, 09:41:

whitewidow says on Oct 21, 2009, 06:29 (today): flag

"old news. much has transpired since then."

The article in the OP was published in La Prensa on Sunday, and my post was from February of this year.

Seems that some people think "everybody's outa step but me".

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whitewidow says on Oct 21, 2009, 18:05:

i was referring to the post. the la prensa article is nothing but sensationalism. makes for good reading i guess, and some good ole fashioned fear mongering...... if you did not know better.

* by the way - colombia signed away all banking privacy when plan colombia was put into effect. you would be better off digging a hole if you intend on keeping your money private and safe from lurkers.

I'm no doper! I just play one on TV.

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