La Corte Suprema de Justicia, declaro que es inconstitucional el último párrafo del artículo 86 de la Ley 106 de 8 de octubre de 1973, que daba lugar a que los municipios pudiesen cobrar el Impuesto Municipal, a los contribuyentes que omitieran dar aviso del cese de operaciones. Mediante...
Have you completed the Off-Site Evaluation Form? If not, the Ministry of Economy and Finance shall sanction Non-Financial Reporting Parties regulated by Law 23 of April 27, 2015. In order to avoid the sanction, you must send to the Administration of Supervision and Regulation of Non-Financial Entities of the...
The Executive Power approves a 6.5% adjustment on the minimum wage in Panama, as of January 2018.
The 6.5% wage increase for large companies and 4.5% for small companies was approved on Tuesday, December 26 by President Juan Carlos Varela, after a review of the minimum wage which concluded on December 15 and wherein the National Commission could not reach an agreement. The announcement was given...
PEOPLE WHO ABUSE ANIMALS IN PANAMA WILL FACE UP TO TWO YEARS IN PRISON
The National Government approved Law 70 of October 31, 2017 which amends an article on the Criminal Code in relation to animal abuse. It establishes that the person who performs acts of cruelty, causes death or seriously harms an animal considered a pet, shall be punished with imprisonment of...
Executive Decree No. 331 of October 31, 2017 regulates the digital platform services which are based on the petition of private transportation with a driver by means of smartphones, to mention some. This measure is the result of the need of relying on standards allowing governmental authorities to have...
According to the approval of Law 66 of October 17, 2017, a moratorium period has been established for the payment of the property tax, on interests and surcharges generated by properties subject to this tax, due on December 31, 2017. To benefit from this moratorium, the property subject to...
As established in Law 59 of September 12, 2017, which modifies and adds articles to the Labor Code, employers shall be fined from $500.00 per each employee without its respective work permit. These fines could be as high as $10,000.00 in case of recurrence. The employer hiring minors without...
Panama Enacts a new Law 51 of June 28, 2017 Regulating Road Cargo Transportation
As of the month of June, Law 51 which regulates Road Cargo Transportation shall be in force. This Law shall apply to vehicles of this type driving around the streets of our country, considering their weights and dimensions as the requirements to be complied for the transportation of hazardous...
Resolution 201 of May 3, 2017, whereby it is agreed the text of the procedure to subscribe payment agreements for the cancellation of delinquent tax liabilities, under the competence of the General Directorate of Revenues, establishes that payment agreements may only be settled in case of delinquencies on the...
Leasing at the Colon Free Zone
Resolution JD No. 002-2017 issued by the Board of Directors of the Colon Free Zone, whereby Lease Agreements of the Colon Free Zone are regulated, was published in Official Gazette of May 9, 2017. It establishes the new rules for the Free Zone in relation to leasing and introducing...
