Morgan & Morgan Legal advised Latin American Kraft Investments, Inc., in the registration of cumulative preferred shares for an amount of up to US$50 million.

Panama, December 2, 2021. Morgan & Morgan Legal advised Latin American Kraft Investments, Inc. (LAKI), a holding company of subsidiaries engaged in the business of manufacturing packaging solutions in Central America, the United States of America, Europe and Asia primarily under the SigmaQ brand (the “Issuer”), in the registration of cumulative preferred shares for an amount

Morgan & Morgan advised Avianca Holdings, S.A. and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America.

Panama, December 1, 2021. Morgan & Morgan acted as Panamanian counsel to Avianca Holdings, S.A. (“Avianca”) and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America, after having filed for bankruptcy protection in U.S. Courts back in May 2020. Avianca’s

Benchmark: A priori pricing of related party transactions

December 1, 2021 Taxpayers that have transactions with related parties resident outside Panama must set the prices of such transactions under the arm’s length principle. That is to say, they must be set under the “fair market price”, which is no more than setting the prices of our operations with related parties within the price

The Ministry of Health updates the list of countries considered of high epidemiological risk

Through Resolution No. 2878 of November 12, 2021, the Ministry of Health of the Republic of Panama, updates the list of countries confirmed as high epidemiological risk, as of November 11, 2021, in accordance with the above by the World Health Organization. Countries with High Epidemiological Risk are: AMERICA: 1. Cayman Islands 2. Barbados 3. Anguilla

Time to review transfer pricing

Panama, November 25, 2021. If taxpayer’s resident in Panama have carried out transactions with related parties outside of Panama this tax year, it will be important to review before the end of December whether the related payments are within the ranges required by the tax regulations. Even with local related parties in certain cases the

Morgan & Morgan advised Marevalley Corporation in the registration of a revolving program of corporate bonds for an amount of up to US$150 million.

Panama, November 25, 2021. Morgan & Morgan advised  Marevalley Corporation, a holding company of subsidiaries engaged in the consumer finance business in Panama, Costa Rica, El Salvador, Nicaragua and Mexico primarily under the Instacredit brand (the “Issuer”), in the registration of a revolving program of corporate bonds to be issued in series for an amount

Global investigations guide 2021

Panama, November 23, 2021. Partners Inocencio Galindo, Kharla Aizpurua Olmos, Ricardo Aleman, and associate Joy Paull Torres were invited to contribute with the Panama chapter of the Global investigations guide, a publication produced by international law firm Hogan Lovells. The guide provides complete analysis on topics related to corporate liability, anticorruption, bribery, regulatory compliance, and criminal law.   

Marine Accidents in Panama Canal Waters

Panama, November 22, 2021. As a member of the International Maritime Law Seminar (“IMLS”), Morgan & Morgan collaborated with an article for the 2021 second edition of the IMLS’ newsletter. Our attorney Andrés V. Mejía, from the Shipping & Admiralty Department, wrote about the conditions and procedures that should be followed by a vessel interest in

New tax obligation to report in Panama.

Panama, November 11, 2021. By means of the Resolution No. 201-10011 of 20 October 2021, the Directorate General of Revenues (hereinafter DGI) creates a new tax obligation called “Report of Sales and Services Rendered” as published in the Official Gazette 29406-A of 27 October 2021. This tax obligation is called “Form No. 1027”. It applies

Requirements and conditions for procedures before the General Directorate of Revenue related to the Panama-Pacific Special Economic Area.

Panama, November 9, 2021. By means of the Resolution 201-8097 of August 30, 2021 the General Directorate of Revenue (hereinafter DGI) of the Ministry of Economy and Finance as published in the Official Gazette 29411 of Monday, November 9th, 2021, mandates specific requirements and conditions for natural and legal persons established in the special regime