Regulation to avoid double taxation

By means of Resolution No. 201-10861 of 2013 the Panama Government established the procedures for the procurement of the tax benefits before the National Authority of Public Income.

Certification 
•Any natural person or corporation must process before the National Authority of Public Income a petition that certifies as a valid party subject to the benefits. 
•The applicant must provide sufficient evidence that it is a fiscal resident of the country where resides.

Procedure
•Applicant must provide valid legal identification documentation of the interested party and beneficiary
•The application for the tax benefit must clearly state the provisions supporting the right for the benefit.
•The application must provide a detail explanation of the economical operation to be performed.

Validity
•The validity could vary upon the cases where the interested party declares or not periodically the performance of the economical operation
•The foreign residency certificate will have a validity of 12 months as of the date the document was issued unless the foreign authorities grant the certificate for a less term.

Submission
•Any of the petitions must be submitted before the International Tributary Directorate.

Lic. Eduardo Achurra

eachurra@padela.com