Alert No. 001-2021-GT | 2021 Inspection process begins
The Superintendence of Tax Administration -SAT- started the transfer pricing audit process for the 2020 tax period. The aforementioned process begins with the sending of the first request for information to taxpayers that have carried out operations with related...
Alert No. 001-2020-GT | SAT announces that it will begin with the inspection process regarding Transfer Pricing
According to a statement release from the Superintendence of Tax Administration -SAT-, as of September 2020, it will be initiating the audit process regarding Transfer Pricing for the fiscal period 2019. The mentioned process will begin with the first request for...
Work Statement on the COVID-19 Pandemic in Guatemala
Given the health emergency that is going through the world and the country, in TP Consulting Guatemala we are willing to contribute to make this imminent threat disappear. We have opted for the tele-working modality and we inform our clients and suppliers the...
Alert No. 001-2021-GT | 2021 Audit process begins
The Superintendency of Tax Administration -SAT- began with the inspection process regarding Transfer Prices corresponding to the fiscal period 2020. The aforementioned process begins with the sending of the first information request to taxpayers who have carried...
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...