Panama News

Panama Outlaws Tax Evasion

by Mike Godfrey, Tax-News.com, Washington

Monday, June 17, 2019

Panama has enacted Law 70 to criminalize tax evasion. Read Full Story

Panama To Extend Tax Breaks For Tourism Services Providers

by Mike Godfrey, Tax-News.com, Washington

Monday, June 17, 2019

Panama's National Assembly has approved legislation that will extend tax incentives for hotels and tourism services providers until 2025. Read Full Story

Panama Signs Multilateral Pact To Exchange CbC Reports

by Mike Godfrey, Tax-News.com, Washington

Monday, June 17, 2019

Panama has become the latest jurisdiction to sign the Multilateral Competent Authority Agreement for Country-by-Country Reporting, allowing it to exchange CbC reports with other jurisdictions on an automatic basis. Read Full Story

Panama's Gov't Pushes For Adoption Of Key Tax Evasion Bill

by Mike Godfrey, Tax-News.com, Washington

Monday, June 17, 2019

Panama's Economy and Finance Ministry has urged lawmakers to approve a bill that would make tax evasion a predicate offence for money laundering. Read Full Story

Panama Adopts Modified Nexus Approach To Counter BEPS

by Mike Godfrey, Tax-News.com, Washington

Monday, June 17, 2019

Panama has newly gazetted legislation to ensure that taxpayers can access preferential tax arrangements for intellectual property income only where they can demonstrate that such income came from activities with economic substance in Panama. Read Full Story

OECD Reports Progress On Harmful Tax Regimes Work

by Ulrika Lomas, Tax-News.com, Brussels

Friday, November 23, 2018

Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide. Read Full Story

IMF: Panama Should Improve Tax Transparency

by Mike Godfrey, Tax-News.com, Washington

Friday, October 12, 2018

The Panamanian Government's failure to fully embrace the international tax transparency agenda could lead to "reputational damage" for Panama, the International Monetary Fund has warned. Read Full Story

EU Removes Bahamas, Saint Kitts From Tax Blacklist

by Ulrika Lomas, Tax-News.com, Brussels

Monday, June 4, 2018

The EU on May 25 removed the Bahamas and Saint Kitts and Nevis from its list of non-cooperative tax jurisdictions. Read Full Story

Panama Updates Transfer Pricing Reporting Form

by Ulrika Lomas, Tax-News.com, Brussels

Friday, April 27, 2018

Panama's General Revenue Directorate has released a new version of its transfer pricing Form No 930, which must be used to present information on the pricing of cross-border transactions between related parties. Read Full Story

Time For Latin America, Caribbean To Hike Tax: World Bank

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, April 19, 2018

With economic recovery being reported in Latin American and Caribbean states, a new World Bank report says governments must now look to fiscal policy to reduce their deficits. Read Full Story

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