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Español Utilización de créditos ITBMS en Panamá
27 de agosto de 2020
Desde el año pasado, la Dirección General de Ingresos, mediante decretos ejecutivos y resoluciones reglamentarias dispuso los lineamientos para la utilización y aplicación de los créditos del Impuesto de Traslado de Bienes Materiales y Servicios (ITBMS) generados producto de las retenciones practicadas por los agentes de retención de este impuesto, en el caso de los consorcios o sociedades accidentales. Hasta mayo de este año, se permitía la cesión a otros dos contribuyentes de dichos créditos, los cuales podían ser aplicados solamente en dos períodos fiscales.
Recientemente, mediante la Resolución No. 201-5006 de 17 de agosto de 2020, se amplía el marco de aplicación de los créditos y además de los consorcios o sociedades accidentales, se reconocerá también a las sociedades regulares en los siguientes términos:
“Este crédito sólo será reconocido a las personas jurídicas regulares y sociedades sin personería jurídica, que por sus características actúen como agente de retención o como retenido y presenten una solicitud donde comprueben fehacientemente que se mantienen operativamente inactivos o que haya culminado la obra o proyecto para el cual fueron creados por lo que se les hace difícil poder recuperar y aplicar este crédito.”
Como mencionamos anteriormente, la utilización de los créditos fiscales de ITBMS sólo se permitía durante dos períodos fiscales; sin embargo, la Resolución No. 201-5006 que comentamos permite que sea aplicado por períodos subsiguientes en los siguientes términos:
“Informar a los contribuyentes que el crédito fiscal del ITBMS que se generó como consecuencia de la retención de los agentes de retención de este impuesto, podrá ser aplicado en el período fiscal en que se reconoce y períodos subsiguientes.”
El resto del procedimiento de reconocimiento y aplicación de dichos créditos se mantiene de la siguiente manera:
- El contribuyente deberá estar al día con el pago de todas sus obligaciones tributarias para solicitar este reconocimiento del crédito.
- El crédito reconocido podrá ser aplicado a dos contribuyentes obligados del ITBMS, para el pago de una deuda por este impuesto, por cada periodo fiscal, previo acuerdo entre las partes. Para esto deberá presentar formal solicitud ante la Dirección General de Ingresos, señalando las generales de los contribuyentes a quienes desea ser aplicado dicho crédito, el porcentaje que le será cedido, el porcentaje que se aplicará y el período a aplicar.
- El crédito reconocido no podrá sr utilizado en un porcentaje mayor al cincuenta por ciento (50%) por período fiscal.
Nos mantenemos a su disposición para aclarar lo que estimen prudente. Favor contactarnos en [email protected] o directamente a:
Amanda Barraza de Wong
Asociada Senior, Morgan & Morgan
[email protected]
Angélica Ortiz
Asociada, Morgan & Morgan
[email protected]
- Published in 2020, Angelica Ortiz, Barraza Amanda, News, Taxation, Taxation-es
Chambers & Partners Corporate Tax Guide 2020
Panama, May 19, 2020. Partner Inocencio Galindo, senior associate Amanda Barraza, and associate Angelica Ortiz contributed with Chambers & Partners Corporate Tax Guide 2020. This edition highlights the key features of tax regimes, taxation of inbound investments, taxation of non-local corporations, anti-avoidance and BEPS.The online Panama chapter is available here.
Or a PDF version is available to download here.
- Published in Angelica Ortiz, Barraza Amanda, Inocencio Galindo, News, Taxation_publi
Morgan & Morgan Forum on Transfer Pricing
Morgan & Morgan, in partnership with Grupo Camacho Internacional (Costa Rica), presented a forum on Transfer Pricing Matters for a distinguished group of clients of the firm with the objective of updating them about important changes on this complex issue, which affects both local and multinationals companies with operations in Panama.
The topics were presented by Vladimir Blanco Solano and José Guerra Tovar, partner and manager of Grupo Camacho Internacional. As well as partner Enrique Jimenez and lawyers Adolfo Campos, Amanda Barraza and Angelica Ortiz; and the accountant Carlos Sinisterra; all of them members of the Tax Law Department of Morgan & Morgan.
Thus, Morgan & Morgan reaffirms its commitment as a leading firm in tax and fiscal matters, always ahead in benefit of their clients.
- Published in 2019, Adolfo Campos, amanda_barraza_publi, Angelica Ortiz, Barraza Amanda, Enrique Jimenez, News, Taxation
Morgan & Morgan presented tax updates
The Tax Team of Morgan & Morgan invited a group of clients to a breakfast-discussion table where the last updates and news on tax issues were presented. In front of a full house, partner Enrique Jimenez, and lawyers Adolfo Campos, Amanda Barraza and Carlos Sinisterra (CPA) talked with clients about the changes and amendments that have been made to the laws and entities on this subject.
Thus, Morgan & Morgan reaffirms its commitment as a leading firm in tax and fiscal matters, always ahead in benefit of their clients.
About Morgan & Morgan
Morgan & Morgan advises companies and individuals in matters pertaining to the Panamanian taxation system, including special taxes regimes. The firm has an experienced team of attorneys with broad knowledge in tax law addressing all sorts of industries, such as, financial services, technology, shipping, energy, real estate, intellectual property, retail and wholesale business, who can readily identify obstacles and solutions but mostly the opportunities clients can expect to achieve upon making business in Panama.
- Published in 2018, Adolfo Campos, Barraza Amanda, Enrique Jimenez, News, Taxation
The Tax Residence in Panama
By: Amanda Barraza de Wong, Associate, Tax Law
With Panama being a jurisdiction whose tax system is based on the Principle of Territoriality, and whose economy revolves around financial, legal and logistic services… what policy should it have with regards to foreign capital? Certainly a policy for attracting direct foreign investment. Capital that provides financing for development itself. And that capital does not arrive alone; it is accompanied by natural or legal persons, which motivates the analysis of whether to consider them tax residents or not.
In Panama, we have specific criteria to determine after a study of each particular case, whether a natural or legal person can be considered a tax resident under the provisions of both the Tax Code and the Treaties to Avoid Double Taxation in force.
Tax residence certificate
The residential tax certificate is the document that accredits a person, being a natural or legal person, his/her tax residence in our country and it is only issued by the General Directorate of Revenues (DGI) based on article 762-N of the Tax Code, Executive Decree 958 of 2013 and regulatory resolutions.
Requirements
The basic requirements established by the DGI for the issuance of the Tax Residence Certificate in the Republic of Panama are the following, in addition to the criteria that underlie the analysis:
- Petition addressed to the DGI containing:
- Clear and express identification of the applicant.
- Specification of the tax treaty or agreement to which it wishes to be allocated, when applicable.
- Original Public Registry Certificate, in the case of legal persons.
- Copy of identity card or passport of the applicant or the Legal Representative.
- Power of attorney, in case of legal persons.
- Other relevant evidence.
Conclusion
Since the fiscal year 2010, there have been several regulations issued on this concept; it is a topic that has been developed particularly over time and we believe that it will continue to evolve.
- Published in 2018, amanda_barraza_publi, Barraza Amanda, Press Room, Publications
Morgan & Morgan Associate participated as a speaker in Accounting and Taxation Congress
Amanda Barraza de Wong, associate of Morgan & Morgan, participated as speaker in the Annual Congress of Accounting and Taxation (CACOTYF-Panama 2017), held on October 3 and 4 in Panama City.
Morgan & Morgan was also a sponsor of this event which brought together professionals from diverse areas who engage into a great number of presentations. Among these, the presentation of Mrs. Barraza de Wong on the “Tax Residence”, its requirements, uses and considerations, which both natural and juridical persons should take into consideration to apply as tax residents according to what says both the Fiscal Code as the Treaties to Avoid Double Taxation.
Mrs. Barraza de Wong is an associate attorney at the firm’s Tax Department. She has 25 years of experience in tax departments of important international auditing firms, as well as in the General Department of Revenue and the Ministry of Finance, as a tax lawyer. In developing its legal practice, she has advised multiple companies on the tax contingencies of the various forms of hiring foreign personnel in Panama, and has a broad vision of the practices used by corporations to address the filings and forms required to be in compliance with tax regulations.
- Published in Barraza Amanda, News
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