If you live in Panama, the answer to if you still have to file your income taxes in Canada is “No and yes.” If you are no longer a resident of Canada, you do not have to file income taxes. If you are still a resident of Canada and you have income in Canada or in Panama, you do have to file. So it depends on what country you are a resident of or what status you have in Canada. So, if you still own a home in Canada or if you have significant holdings and investments, that will tie you to Canada, and then you would have to file income taxes.
If you spent 6 months in Canada and 6 months here in Panama, you are definitely going to be filing in Canada. But if you give up your Canadian investments and holdings, and you live full time down here in Panama, then no, you would not be liable for income taxes in Canada.
Neil and I both file returns for 2012. As partners, our 2012 returns were identical. We had filed the CRA paperwork to give up our residency. Revenue Canada refunded me and made Neil pay a very hefty tax bill (on identical income). We had an international tax accountant file the paperwork requesting a review, but the tax accountant was going to end up costing more than the tax bill. Two full years later we got a phone call, here in Panama, from a lady from CRA asking if we would like a refund! Canada does not consider income in Panama as taxable in Canada if you are a non resident.
(Map of Canada, pictured. )