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

Israel’s Knesset has passed the Trapped Profits Law (tax on excess undistributed profits) on 29 December 2024. The law imposes a 2% tax on excess undistributed profits of closely held holding companies (entities with five or fewer

Panama's Ministry of Economy and Finance has issued Executive Decree No. 177 of 2024 on 30 December 2024, which includes the deadline to submit accounting records and supporting documents to resident agents, set at 31 March 2025 for tax years 2021,

Israel’s Tax Authority has issued guidance on the increase in the standard VAT rate from 17% to 18%, effective 1 January 2025. The guidance provides an explanation of how to apply the correct VAT rate to transactions such as goods, services,

Israel’s government passed the budget for 2025 on 1 November 2024. The 2025 budget includes various tax hikes, such as an increase in the standard VAT rate from 17% to 18% and spending cuts on most ministries. The Israeli Cabinet cited that tax

Panama introduced a tax amnesty through Law 446, published in the Official Gazette on 28 October 2024, offering tax relief on surcharges and late interest payments for various tax liabilities, such as income tax, real estate tax, VAT, selective