Expiration of the Presentation of the Country by Country Report corresponding to fiscal year 2018: January 31, 2020
1. PUBLISHED RULES: On May 27, 2019, Executive Decree No. 46 was published by the General Directorate of Income of the Ministry of Economy and Finance, in use of its legal powers to request the Country by Country Report, containing information related to the amount...
Tax Amnesty is approved in Panama for taxes administered by the DGI
Law 99, published in the Official Gazette on October 14, 2019, has approved the General Tax Amnesty for the payment of taxes administered by the DGI. Through it, an exceptional period is granted until December 31, 2019, in order for taxpayers to regularize their...
Special Regimes of Panama apply Transfer Pricing rules as of fiscal year 2019
The Special Regimes are one of the most successful strategies to increase investments that Panama has historically had, consisting of the adoption of laws that facilitate the establishment of companies that receive tax benefits. In Panama there are several of these...
Panama adopts the Transfer Pricing Report Country by Country. Expiration on December 31, 2019 with respect to fiscal year 2018
By Executive Decree No. 46 dated May 27, 2019, published in the Official Gazette on the same day, the Regulatory framework of the Country-by-Country Report (hereinafter RPxP) was approved. Next, the explanation of the main aspects of this decree. 1. Background 1.1....
Panama is removed from the black list of tax havens of the European Union (EU).
To get out of the black list of the European Union (EU), Panama adopted a series of strong measures to comply with the demands of the European Union and reach a written commitment with a high political level to cooperate in the fight against tax fraud. "Thanks to...
Panama strengthens its Tax System and signs Multilateral Agreement between Competent Authorities (MCAA) for country-by-country reports (Country by Country Report)
1. PUBLISHED AGREEMENT: The signing of this agreement reaffirms the country's commitment to comply with international agreements that improve our image, in the fiscal and financial sphere. During the BEPS Inclusive Framework meeting (Erosion of the Tax Base and the...
Expiration of the Presentation of the Transfer Pricing Report Form 930 V2.0
1. PUBLISHED STANDARD: On April 2, 2018, Resolution No. 201-1937 was published by the General Directorate of Revenues of the Ministry of Economy and Finance, in use of its legal powers. Said elements must be considered for the presentation of tax obligations...