Panama as a tax haven

A tax haven is a country where it is easy for people to avoid paying taxes. Panama is a tax haven because it has very low taxes, so people who have their money in Panama don't have to pay a lot of taxes on it. It also has strict rules that make it hard for governments of other countries to see where people have their money and get them to pay taxes. This makes Panama very attractive for people who want to keep as much of their money as possible.