New Law on tax amnesty in Panama: corporations and private interest foundations

Alvaro Tomas, partner and Vice President of Operations of the Fiduciary Unit of Morgan & Morgan The Panamanian government has issued Law 99 of October 11, 2019, which establishes a General Tax Amnesty Law (“Amnesty”) that includes the elimination, for a limited period, of the penalties and surcharges caused by non-payment of the obligations with

The ABC of the Tax Amnesty in Panama Law 99 of 2019

With this new legal initiative, the taxpayers have the opportunity to clear tax debts without interests, surcharges and fines and to file forms past due without penalties. Taxes included           Those managed by the Revenues General Directorate     What does the tax amnesty refer to?           Condonation of: Interests Surcharges Fines  Tax Amnesty Term    If

María Eugenia Brenes contributed in the guide Patents 2020

Panama, October 7, 2019. Maria Eugenia Brenes, associate in the Intellectual Property Department of Morgan & Morgan, contributed with the Panama Chapter of Patents 2020, a publication that covers common issues in patent laws and regulations, in 36 jurisdictions. The complete publication can be found here.

Morgan & Morgan advised in the sale of a frozen desserts business in the Republic of Panama

Morgan & Morgan advised the sellers of a business engaged in the production, distribution and sale of ice pops, sorbets, ice cream and frozen desserts in the Republic of Panama. Partners Francisco Arias G. and Roberto Vidal, and associate Cristina De Roux, participated in this transaction.

Panama Seeks to Adopt a Framework Law for Public-Private Partnerships

By: Ramón Varela, partner, Morgan & Morgan [email protected] For the past few decades, Panama has established public-private partnerships (“PPPs”) in projects as diverse as toll roads, water treatment plants, ports, telecommunications networks and the generation and distribution of electricity. These projects, however, have been created and managed under either a general (and, for current-day standards,

New requirements to request rehabilitation of Permanent Residence Permits in Panama

Resolution No. 17405 of August 29th, 2019.  As of September 4TH, 2019, The National Immigration Authority (hereinafter “SNM” for its acronym in Spanish) established new requirements to request Rehabilitation of Permanent Residence Permits (hereinafter “Rehabilitation”) for foreigners, who have remained outside of Panama for more than two (2) years and up to six (6) years.

Morgan & Morgan advised MMG Bank Corporation in connection with the structuring of the first ever public offering of revolving Green Bonds issued in the Republic of Panama

Panama, September 3, 2019. Morgan & Morgan advised MMG Bank Corporation, in the structuring of the first ever public offering in the Republic of Panama that consists in a program of revolving Green Bonds issued by Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), for an amount of up to US$200,000,000.00. The Green Bonds

Morgan & Morgan is nominated at the Latin American Energy and Infrastructure Awards

Morgan & Morgan and 3 lawyers of the firm are nominated in the first edition of the Latin American Energy and Infrastructure Awards, an event organized by the Iberian Legal Group and its publication The Latin American Lawyer, with the aim to recognize the excellence and achievements of professionals in the energy and infrastructure sector

Morgan & Morgan advised Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A.

Panama, August 27, 2019. Morgan & Morgan acted as counsel to Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A. with the Superintendency of Capital Markets of Panama for its negotiation in the secondary market, shares that have been also listed on the Panama

Morgan & Morgan advised Cirsa Enterprises S.L.U. in connection with the offering of senior secured notes for an amount of up to €490,000,000

Panama, August 26, 2019. Morgan & Morgan acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €490,000,000 senior secured notes due 2025 with a floating interest rate of three-month EURIBOR (subject to a 0% floor) plus 362.5 basis points per year, reset quarterly, issued by Cirsa Finance International S.à.r.l., and to