Panama has recently increased the flat annual registration fees charged in place of tax to companies and foundations. Law No. 61 of 2002, which is now in force, changes the previous annual fee of US$ 150 (Balboas 150) TO US$ 250 (Balboas 250).
Companies with registration dates from 1st January to 30th June need to pay the fee by 30th June; companies with registration dates from 1st July to 31st December need to pay the feel by 31st December.
Late payment incurs a surcharge of US$ 50 (Balboas 50); and non-payment invalidates any corporate acts taking place in the period concerned.
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