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.

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 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

Regulations on Accounting Records for offshore companies

In order to comply with the international guidelines regarding corporate transparency, the government of Panama enacted Law 52 of October 27, 2016 in the Official Gazette, which establishes the obligation for Panamanian companies and other entities to maintain accounting records, financial records and supporting documentation of all transactions that took place during the last five

Morgan & Morgan provided pro bono tax advice to Camara de Reciclaje de Panamá, Asociacion Marea Verde, Enseña por Panama y Fundación Banco de Alimentos

Panama, August 6, 2019. The Recycling Chamber of Panama, the Marea Verde Association, Enseña por Panama and the Food Bank Foundation, were authorized to obtain the Resolution of the General Directorate of Revenues (DGI for its initials in Spanish) that approves these organizations to receive donations deductible from income tax. Associates Amanda Barraza and Angelica

Panama: Regulations applicable to tax deductions from school expenses

Angélica Ortiz, Taxation Department, Morgan & Morgan Law 37 of June 5, 2018, adds line 9 to article 709 of the Fiscal Code, which is related to the annual income tax deductions to which natural persons are entitled, regarding school expenses incurred by the taxpayer with respect to their dependents. Additionally, Executive Decree 368 of

Morgan & Morgan is recognized for its Pro Bono program

Panama, July 3, 2019. For the sixth consecutive year, Morgan & Morgan has received the “Leading Lights” recognition in Latin America for the Pro Bono program that the firm executes. This distinction was granted by the publication Latin Lawyer, who together with the Cyrus R. Vance Center for International Justice conducted an annual survey with

New immigration changes: SEM, Special Regularization Process and Aviation

Executive Decree No. 238 of June 10, 2019 REQUIREMENTS TO APPLY FOR PERMANENT RESIDENCY FOR EXECUTIVES OF MULTINATIONAL HEADQUARTERS OFFICES (“SEM” for its acronym in Spanish). As of June 11th, 2019, the requirements to apply for the Permanent Resident Permit for Executives of SEM companies who i) continue working at a SEM company, and ii)