Panama’s Ministry of Economy and Finance and tax authorities have recently announced tax developments, which include new regulatory obligations for resident agents and legal entities and deadline extensions for compliance requirements. Updated

Panama's Ministry of Finance has published Resolution No. 201-1394 of 5 February 2025, approving the updated withholding tax Form No. 1119 (version 1). The form is for the withholding tax introduced by Law No. 57 of 24 October 2018 on certain

The Portuguese tax authority (PTA) issued Ruling No. 21788 on 31 January 2025, announcing that a Portuguese non-resident individual is not liable for capital gains tax in Portugal on the sale of shares in a foreign company with assets in the

On 23 January 2025, officials from Panama and Peru met to discuss strengthening economic and trade relations, including negotiating an income tax treaty. The income tax treaty between the two countries would eliminate double taxation and prevent

The Portuguese Tax Authority has issued Circular Letter No. 20273/2025 on 22 January 2025, outlining the municipal surcharge rates for corporate tax in fiscal year 2024. The circular introduces several key provisions, including: Lower

Panama’s General Directorate of Revenue has introduced a new income tax return form for Colon Free Zone taxpayers, now available in the eTax 2.0 system. Taxpayers must update their status as Colon Free Zone users in the eTax 2.0 system to