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...
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...
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...
Employees of private and public companies shall benefit from paternity leave
As from the month of May, employees of private and public companies shall benefit from a paid paternity leave as established in the recently approved Law 27 of May 23, 2017, when his wife or partner in conditions of singularity gives birth. The employee must have informed his employer...
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...
