The Ministry of Health regulates the requirements for the entry to the country of national, resident or foreigner passangers with complete vaccination with covid-19 vaccines not approved by WHO, FDA or EMA.

The Ministry of Health (hereinafter, MINSA), through Executive Decree No. 883 of December 10th, 2021 (hereinafter the “Decree”), establishes the measures for the entry of national, resident or foreigner passangers with a complete vaccination with COVID vaccines not approved by the WHO, FDA or EMA, during the State of National Emergency, as follow: NEW RULES APPLICABLE FROM DECEMBER

Morgan & Morgan Partners recommended by the Latin American Corporate Counsel Association (LACCA)

Panama, December 14, 2021. Partners Carlos Ernesto González Ramírez (Antitrust & Competition), and Inocencio Galindo (Banking & Finance) have been included at LACCA Approved 2022, a selection of Latin American leading lawyers in specific areas of law. Approved lawyers have been personally recommended by members of LACCA, who are all general counsel from the top

Relevant changes Spreadsheet 03

December 3, 2021 Executive Decree No.186 of 22 November 2021, published in the Official Gazette 29427-C of  December 2nd 2021, establishes important changes to Form 03, which is the report that allows taxpayers to submit information on all their employees for income tax withholdings. These are summarized below: Filing. Previously it was filed within the

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

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