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
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
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
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.
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
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
Panama, November 9, 2021. At Morgan & Morgan, we believe in and promote diversity and equality in the workplace. We are proud to announce the incorporation of our attorney Ms. Fanny Evans, as a new associate of the Association of Directors of Panama (ADP, for its initials in Spanish). We are sure that her professionalism
Morgan & Morgan achieved the highest number of practices and lawyers ranked in The Legal 500 Latin America.
Panama, October 26, 2021. Morgan & Morgan has been recognized by The Legal 500 as the Panamanian law firm with most practice areas and lawyers ranked in the 2022 edition of the directory, a key reference point of regional top law firms. The publication has assigned the firm ten practice areas rankings, 7 of these
Panama, October 15, 2021. The new Board of Directors of The Society of Trust and Estate Practitioners (STEP) Panama Chapter recently took office, with Ms. Ana Isabel Diaz as president for the 2021-2023 period. The event was attended by Mr. Publio De Gracia, Director of the General Revenue Directorate of the Ministry of Economy and