The FATCA & AEOI Portal of Panama’s Directorate General of Revenue (DGI) is now accepting registration for Country-by-Country (CbC) report presentation and notification purposes, as well as for FATCA and CRS purposes.
The CbC reporting obligation is required when the MNE group has consolidated revenues in excess of € 750 million (or the equivalent in Balboas) for the previous fiscal year. Panama’s CbC reporting requirements apply from the 2018 reporting fiscal year, with the deadline for the initial CbC report deadline was extended to 31 January 2020, which as per the standard deadline, would have been due by 31 December 2019.