The Directorate General of Revenue (DGI) of Panama released Resolution No. 201-3346 on 13 April 2023. On 19 April 2023, this resolution has been published in Official Gazette No. 29764, and effective since that date. The resolution revises the criteria for determining whether a taxpayer qualifies as a large taxpayer. According to Resolution 201-3346, the new simplified conditions state that an individual or a legal entity will be categorized as a large taxpayer if their income or assets exceed PAB 20 million.
Related Posts
Panama offers amnesty for late interest payments for tax liabilities until December
November 05, 2024
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
Read More Panama introduced procedure to allow transfer of tax credits
October 01, 2024
Panama’s tax administration (Dirección General de Ingresos, DGI) introduced a procedure that allows taxpayers to transfer tax credits from income tax, property tax, education insurance tax, complementary tax, and dividend tax to another
Read More Panama: Municipality announces tax amnesty programme
September 13, 2024
The Municipality of Panama has introduced a tax amnesty programme that grants exemptions from interest, penalties, and fines for individuals and legal entities, as per Agreement No. 200, on 20 August 2024. To qualify, participants must settle
Read More
India, Panama interested to conclude tax treaty
September 03, 2024
The General Directorate of Revenue of Panama's Ministry of Economy and Finance announced that India and Panama have shown interest in establishing a tax treaty, following a meeting between officials from both nations held at Panama on 28 August
Read More
Panama extends CRS filing deadline
August 20, 2024
Panama’s tax administration (Dirección General de Ingresos—DGI) has extended the common reporting standard (CRS) filing deadline for the fiscal year 2023 until 2 September 2024. The previous reporting deadline was set for 31 July
Read More
Panama, Brazil negotiate income tax treatyÂ
August 16, 2024
Panama's Ministry of Economy and Finance, in a release, stated that officials from Panama and Brazil convened, on 12 August 2024, to discuss the negotiation of an income tax treaty. Panama’s General of Revenue, Camilo Valdés Mora, and the
Read More