Germany discourages business with Panama for paradise listing

1,345Views 2Comments Posted 30/08/2021

A law approved by Germany last June introduces stricter fiscal measures in the relations between that country and those that are on the European Union's blacklist of non-cooperative territories in tax matters, which includes Panama.

These measures would make Panama more expensive and therefore less competitive, as a recipient country of German investment and an exporter to the European country.

German investment in the country in 2019 was $767.2 million, in sectors such as the automotive, financial, gastronomic, marketing and hotel sectors, according to Propanamá.

Dani Kuzniecky, secretary of the National Commission against Money Laundering, said that when it comes to investment, two problems can arise: established German companies that decide to leave and those interested in arriving, who do not. Progress in evaluating the exchange of tax information would be key to avoiding the measures

Comments 2

George Klk

Panama: World Bank / German Investment - over a $billion and Poverty Strikes. Include the 25-year non-payment contract from the Panama Ports and something is wrong! Include many of the corruptions since the former administration of Panama president Martinelli. Shortage of medicines and unsatisfactory doctor and nurse wages with protesting strikes. Theft of children's funds and rampant child abuse cases with suicidal shamed children. Now, rely on a mafia underground lottery scandal from the... Molirena party. There is of course... non-transparency with the Panama Comptroller General. Non-transparency has been recently condemned with little affect and with little impact. Black list / Grey list and now there is the precautionary measures of Europes investments. Europe's investments as Panama looks for hanging $10 thousand heists... with legal attorneys! Wait... for the perfect crime... Martinelli needs to be re-elected Panama President! You see... that's how it works! Panama National Assembly has a Molirena party leader installed as the president of the P.N.A. You see... that's how it works! Panama president Cortizo Cohen was with the P.N.A. for 10 years with understandable loyalty. Panama Executive allowance payments... $millions... possibly - [$billions / Martinelli family operation. You see... that's how it works! Explains the inequities and all the team work of elaborate schemes using front men such as... Ferrugia: front man... head banker... off shore Panama island headquarter operator... controlling passage of marine trade commercial ships with a Ferrugia/Martinelli pact -$30 thousand... plan A - plan B operations control of the Panama Ports! Serious conspiracy theory... don't doubt it! Germany and the World Bank basically... supports the crimes committed with the equitable distribution of wealth for the elites. You see... Panama has milk and hams... that's how it works!

3 months ago

Germany has around 50% income tax plus Business tax for some companies additional 75%. If a German moves to Panama why he should give Germany his tax information to pay even there this insane amount of taxes. I am a German have a Cedula in Panama live in Costa Rica make my business in the US and pay my taxes. Germany and Europe is a no go for me. I pay around 20% taxes i found out this is even too much but 75 % ? Haven a good time Europe without myself. By the way if Cortizo is jailed i'll come back to Paitilla. Serious !

3 months ago
The comments are the responsibility of each author who freely expresses his opinion and not that of Newsroom Panama.
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