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I read on https://www.offshore-protection.com/panama-private-interest-foundations-formation (mirror) (emphasis is mine):

Panama is a true 'tax haven'. Panama Foundations offer the following tax advantages:

  • No tax reporting requirements

  • No income tax

  • No capital gains tax

  • No interest income tax

  • No sales tax

  • No tax to beneficiaries

  • No beneficiary transfer tax

  • No capital tax

  • No property tax (for non-Panamanian property)

  • No estate tax

  • No gift tax

  • No inheritance tax

  • No stamp tax

  • No succession tax

  • No inventory tax

What is the difference between succession tax and inheritance tax?

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    Unless someone can find a jurisdiction that has both (which could be the case) my assumption is that these are the same. If one country calls it Succession Tax and another calls it Inheritance Tax then Panama is probably enthusiastic to assure people they don't have it, whatever it is called.
    – Eric Nolan
    Oct 8, 2021 at 9:57

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