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Originally Posted by Probono
US Citizens still pay US taxes so that is of limited help.
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First off, you can do just fine speaking only a little spanish in Panama, Second, as for the US citizens paying taxes. You pay taxes on the money that you earn in the US. if you earn money from Panama, you dont have to claim that unless you make 80k or more. Also you get an automatic 30 day extension on your taxes.
And if I recall not long ago, someone from thos baord had some legal issues in Panama for running porn sites.