Law No. 446 granting a moratorium
October 31, 2024 What you should know about Law No. 446, which grants a tax moratorium for the payment of national taxes. 1. It grants a moratorium period until December 31, 2024, for the payment of interest and surcharges incurred on the following taxes: notice of […]
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MORATORIUM BILL / QR CODE BILLING METHOD
October 18, 2024 MANDATORY CERTIFICATION We reiterate our commitment to publicly displaying the Certification of Systems According to the Billing Method (QR Code) for all commercial or service activities. This obligation has been in effect since June 2022. We must also remind you that there are penalties […]
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Check the update of your NIT
October 17, 2024. For security reasons, the General Directorate of Revenue has disabled the Tax Identification Numbers (TINs) of some taxpayers. We suggest you check the TINs of some of your companies or individuals to determine if they are among those disabled. If so, it is […]
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What you should know about invoicing in Panama
What you should know about invoicing in Panama September 17, 2024 Invoicing in Panama has evolved as the General Directorate of Revenue (DGI) seeks to regularize taxpayer billing. If you use Fiscal Teams, you should know that: Individuals and legal entities that have not been included in […]
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NEW MORATORIUM LAW – “CATCH UP”
New Moratorium and Other Property Tax Exemptions The Legislative Branch approved a new moratorium and other property tax exemptions. This law also includes other provisions. Waiver of fines, surcharges, and interest. 100% tax amnesty on interest and surcharges on outstanding balances. To qualify for this benefit, the […]
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Expiration of Transfer Pricing Form or Form 930
What you should know! The Transfer Pricing Report submission deadline is June 30, 2023, for companies whose fiscal year ended December 31, 2022. To comply with the obligations regarding transfer pricing transactions, companies that maintain transactions with related parties in the […]
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Penalties for Non-Submission of Form 03 Are Modified
Details of New Sanctions Through Official Gazette 29770-A, Resolution No. 201-3486 of April 17, 2023, was published, detailing the amount of fines for late filing of Form 03. In its first article of Resolution No. 201-3486 of April 17, 2023, modifications are made to the […]
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New Moratorium and New Sanctions
Official Gazette 29622-A, published on November 14, 2022, amended several articles of the Tax Code and other tax-related laws. Among the most significant amendments are a new tax extension or amnesty, as well as new fines for filing corrective actions or filing them late.
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Updating your RUC – Avoid a possible fine
Fine? That's right. Official Gazette 29581 of July 19, 2022, issued a resolution from the DGI requiring all taxpayers to update their RUC information. The DGI initially gave taxpayers until July 31 to update the information. Failure to comply with this obligation will result in taxpayers not being able to […]
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Monthly Form 03 starts on July 15, 2022 – Avoid the Fine
Monthly Form 03 Report begins in July 2022 – B/. 1,000 fine for failure to submit. As we announced in previous bulletins, starting in 2022, Form 03 filing will change from annual to monthly. Therefore, you must be prepared to file Form 03. […]
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