Income tax for Suisse bank employees in Panama?

Question

I am being hired by a Suisse bank as a private banker to handle suisse accounts in Latinamerica, with base in Panama.

Does anybody know the income tax that will be deducted from my paycheck (if any)? I understand that foreign banks wont pay taxes?

Answer 1

idk

Answer 2

Well first you have to contact me so we can do some business when you're based in Panama, as we have clients that are interested in wealth management in Switzerland.

Second depending on how the bank will pay you, then either you will pay taxes in Panama or not.

If the bank pays you as a local employee you will have to pay taxes, and they depend on how much is your salary.  But the deductions are:

- Income Tax

- Social Security

If you tell me your salary I can tell you how much you will be deducted.

If you're hired as an offshore employee, and you're payed in an offshore account, then you may not have to pay taxes, but then you might have to open a local account where you can wire some money to take care of your local expenses (food, rent, gas, etc.)  That should be easy for you given that you're a Swiss banker, and should have both contacts and references to get an account open quick.

Hope that helps1