On 27 June 2023, Panama officially published Resolution No. 201-4370/2023 in the Official Gazette, that introduces updated forms for filing income tax returns. These new forms are applicable to various entities, including individual taxpayers, legal entities and entities within the Panama multinational headquarters (MHQ) sector, (Panama Pacifico and Free Trade Zone entities).
The Resolution also clarifies that taxpayers with a total income exceeding PAB 11,000 are required to have their tax returns countersigned by a certified public accountant. This process can be facilitated using the e-Tax 2.0 system.
This Resolution is effective from its enactment in the Official Gazette (i.e., 27 June 2023) for tax returns for the FY 2022 that have not yet been filed.