Thursday, 17 October 2019

My Cedula is here!

I am a Southern Cherokee Iranian/Canadian/Panamanian man with a Cedula!
My housekeeper just emailed me a copy of my Cedula that just arrived at home. Cedula is a national identification card, similar to Social Insurance Number (in Canada) or Social Security Number (in US).
With my cedula I can now work for National University of Medical Sciences (Panama) that I registered in 2018 and pay personal income tax to Panama. Contrary to what people think, Panamanians do pay business and personal income tax for income generated inside Panama.
Personal income tax rate in Panama is 15% for annual income of $50,000 (US) or less, and 25% for annual income above $50,000 (US). Corporate income tax in Panama is 25% for income generated in Panama. Income generated outside Panama is tax free.

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