Tag: Panama
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Law No. 52 of 2016 in Panama
Law No. 52 of October 27, 2016, enacted by the Panamanian government, introduced significant changes for legal entities in Panama, effective from January 1, 2017. The law primarily focuses on accounting record obligations and related requirements for offshore companies and other legal entities. Key aspects of this law include: Accounting Requirements Supporting Documentation Registered Agent Responsibilities…
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Country-by-Country Reporting (CbCR) Regulation in Panama
Panama has introduced Country-by-Country Reporting (CbCR) regulations in line with the OECD BEPS Action 13 framework. The Panamanian Tax Authority (Dirección General de Ingresos – DGI) is responsible for overseeing CbCR compliance. These regulations aim to increase transparency in international taxation, particularly for multinational enterprises (MNEs), and ensure Panama’s adherence to international standards of tax…
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How CbC reporting is presented in Panama
In today’s globalized economy, multinational enterprises (MNEs) operate across borders, often with complex organizational structures. With this complexity comes the need for greater transparency in financial reporting to ensure tax compliance and mitigate risks associated with base erosion and profit shifting (BEPS). One key tool for achieving this transparency is Country-by-Country Reporting (CBCR). In Panama,…
CbC Reporting 