Blog

Aug 08, 2017

The general directorate of revenues of the Ministry of Economy and Finance regulates the procedure to subscribe payment agreements for the cancellation of the delinquent tax liabilities.

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...

Jul 29, 2017

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...

Jul 12, 2017

Criminal records cannot be required for job applications

Depending on the services and employments, a Police Record issued by the Judicial Investigation Directorate shall be requested.  The record cannot be requested for job applications as established in Article 25 of Law 51 of October 27, 2016, which amends article 18 of Law 60 of 2007. These provisions...

Jun 30, 2017

Whereby it is established the regulatory framework for the implementation of exchange of information for tax purposes and other provisions are prescribed.

Law 51 of October 27, 2016 establishes the Regulatory Framework for the Implementation of Exchange of Information for Tax Purposes and prescribes other provisions in virtue of the covenants subscribed by the Republic of panama in relation to exchange of tax information, fully in force. This new regulation establishes...

Nov 17, 2016

Our obligations for legal persons

With the approval of the Law 52 on the 27 of October of 2016, societies and private interest foundations that do not make operations that are perfected, consummated or take effect within the Republic of Panama, are obliged to keep accounting records. According to the normative, which will come...

Jul 15, 2016

The expanded Canal Demands Taking Precautions

We all agree that the huge expansion of the Panama Canal came to revolutionize the maritime industry and the global trade, but, the increased transit of goods through our ports and free zones also involves the risk of an increase in counterfeiting activities. Certainly, our customs authorities are implementing...