On 27 December 2019, Directorate General of Revenue of Panama has issued Resolution No. 201-9116 and 201-9117, with effect from the date of publication.
Resolution No. 201-9116 extends the filing of Country by Country (CbC) reporting until 31 January 2020 instead of 31 December 2019. Furthermore, executive Decree No. 46 of 27 May 2019 introduced CbC reporting requirements, which first apply in respect of the 2018 reporting fiscal year.
Resolution No. 201-9117 establishes that constituent entities of MNE groups resident in Panama can use the CbC solution in DGI’s FATCA & AEOI portal for the presentation of CbC notifications. The notification is to be submitted in Spanish via the portal no later than the last day of the reporting fiscal year. On 31 December 2019, Gazette No. 28931-B enacted Resolution N°201-9411 extends until 31st January 2020 the term for filing the Notification on the Reporting Entity of the group.
