Uruguay is considered a developing country. A nation's stage of development is determined by a number of factors, including economic prosperity, life expectancy, income equality, and quality of life. As a developing country, Uruguay may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Developing country citizens may have a lower life expectancy than developed country…

Panama has a corporate tax rate of 25%. Businesses that are subject to VAT must pay 7% tax on purchases.

Top-class legal forms

According to the Panamanian Public Register of Panama , the following corporate structures (legal entities) are most commonly registered:

Corporation

Private joint-stock company

The procedure for establishing…