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Panama: Corporate Classification Registering & Tax ID

  The Directorate General of Revenues, most commonly known as “DGI”, attached entity of the Ministry of Economy and Finance of the Republic of Panama. Adopted past March 7, 2018 Resolution No.201.1254, which establishes that corporations constituted in the Republi...

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Reviving Panama Corporations and their Tax Consequences

Although physically, it is not possible to revive a legal person (a corporation in this case) already dissolved and buried, actually it is legally possible thanks to the reform of the Code of Commerce offered by Law 85 of November 22, 2012.   More precise...

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Fiscal Residency Certificate

It is well know that current economic situation has evolved to the position where the biggest global economies through their government have tighten their tax regulation. The procurement of a second residency and/or citizenship has been often an exit measure in regards personal tax expo...

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Free Trade Zones: Tax and new regulations

Since the late 1950’s Panama has been at the forefront of developing its logistics and trading capacities through the creation of especial free zones regimes. Traditionally and until 2011 the Rep. of Panama had created 4 different trade zones via especial laws regime, all of which are state...

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Law 51 of 2016: Legal Framework for FATCA and CRS

Law 51 of 28 October 2016 regulates the framework under which financial institutions must collect and report specified information to the appointed Panamanian supervising authorities. The Law requires that all financial institutions must perform or establish due diligence protocols and ...

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Intangible Assets

  In this hectic and material world, the goods that are marketed fall into two broad categories: tangible and intangible, which in turn have subcategories.    ...

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Tax Effects: Dissolution of Companies

We had to deal recently with the responsibility arising out of unpaid taxes when a company is dissolved having retained earnings subject dividend taxes. Article 528-A of the Commercial Code, added by Act 85 of 2012, deals with the dissolution of companies and explains causes and effects...

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Taxation Capital: Gains the Sale of Stock & Securities

In the past, we have commented on the tax rules on the sale of stocks, bonds or participation shares issued by legal persons, and warn the danger of failing to pay the advance tax on capital gains established by Law 18 of June 19 of 2006. Panama does not escape the rejection of the tax ...

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Panama: New Tax Law Reform

By means of Law 8 of March 15th, 2010, the Panamanian parliament members approved a substantial modification of our tax legislation in accordance to the guidelines established by President Ricardo Martinelli and its Minister of Economy and Finance, Mr. Alberto Vallarino. The ...

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