Arosemena, Noriega & Contreras |  +507 366-8400 |  anc@anorco.com.pa

Author: anorcodigitalweb

  • Electronic Billing in Panama: Taxpayer Obligations and Exemptions

    Electronic Billing in Panama: Taxpayer Obligations and Exemptions

    Electronic Billing in Panama

     

    Pursuant to Decree No. 147 of May 26, 2021, obligations are established, requiring that all taxpayers, be they persons or juridical entities, must issue invoices or equivalent documents to legitimize their operations, otherwise, sanctions may be imposed.

     

    In this regard, the liberal, artisan, and artistic professions, carried out independently or through civil companies, are exempt from the use of a fiscal printer.  Consequently, lawyers are exempt from the obligation to of invoicing using fiscal equipment, however, they can adopt the Electronic Billing model.

  • Qualship 21 Program: Ensuring Safe Maritime Trade and Environmental Commitment

    Qualship 21 Program: Ensuring Safe Maritime Trade and Environmental Commitment

    Qualship 21 Program

     

    This year the Panama Maritime Authority (PMA), marked a milestone by entering the “Qualship 21 Program”.

     

    The Qualship 21 Program is a recognition program implemented by the United States Coast Guard, as of January 1, 2001, with the purpose of insuring safe maritime trade and committed to the environment.

     

    Among the incentives offered by Qualship 21 Program the following standout: (I) for all vessels, the registration is valid for three years and the name of the vessel is posted on the US Coast Guard and EQUASIS website; (ii) for Tank Vessels, Certificate of Compliance (COC) annual examination reduced in scope; (iii) for Freight Vessels, three years of limited Port State Control (PSC) oversight and for Passenger Vessels, reduced scope for the environmental portion of the examination during COC periodic examination.

     

    To qualify for the Qualship 21 Program, the vessels must abide by the policies and requirements established in the program, which encourage those exemplary vessels that have shown compliance and good environmental management.

     

    The list of fully qualified flag administrations is updated on June 30th of each year.

  • All about trademarks

    All about trademarks

    All about Trademarks!

     
    What is a trademark?

    It is a distinctive sign that allows to differentiate and distinguish goods or services that have been produced or provided by a person or company.

     

    Why register a trademark?

    A trademark is an intangible asset that represents one of the main assets of a person or company. 

    Consequently, registering a trademark product or service grants the owner the exclusive use of said trademark.

     

    What’s the Trademark protection period?

    The protection period of a product or service trademark is 10 renewable years.

     

    Panama legal basis

    Law 35 of May 10, 1996, amended by Law 61 of October 5, 2012.

  • What is PROMTUR?

    What is PROMTUR?

    What is PROMTUR, how was it created, and what do they do?

     

    On April 26, 2023, Mr. Carlos R. de la Guardia, an attorney from our firm, attended the Executive Meeting organized by the Chamber of Commerce, Industries, and Agriculture of Panama, where the topic “Consumption and Tourism” was discussed.

     

    The presentation focused on the consumer trend and above all, the present tourism situation in the country and the role that PROMTUR Panama plays in this respect.

     

    PROMTUR Panama is a destination marketing organization, created by Law 9 of 2017, to promote Panama as a world-class tourist destination and create the Trademark (Panamá Vive por Más or English Panama Lives for More).

     

    PROMTUR Panama meets its objectives by working jointly with the Panama Tourism Authority and the private sector; to position Panama as a world-class destination with the purpose of increasing the number of tourists entering the country, lengthening their stay, and boosting revenue for the State.

  • How to obtain a Panama Residence Card in 30 days?

    How to obtain a Panama Residence Card in 30 days?

    Invest in Panama and get a Permanent Residence in 30 Days

     

    The investment can be:

     

    Real Estate Investment: until October 15, 2024, the sum of $300,000.00, after that date the investment must be $500,000.00.

     

    Stock Market: The sum of $500,000.00

     

    Fixed Term Deposit: The sum of $750,000.00

  • Combating Animal Abuse in Panama: Laws and Associated Penalties

    Combating Animal Abuse in Panama: Laws and Associated Penalties

    Animal Protection Law

     

    Animal abuse is a social problem that has long been neglected in Panama. Animals are constantly mistreated, thus violating their lives, by people who do not understand that they are able to feel the same pain and suffering as humans.

     

    In Panama, Law 70 of 2012, amended by Law 133 of 2020, grants judges the power to sanction conduct that constitutes animal abuse. In this regard, the penalties contained in the Penal Code have been increased, which means that today anyone who causes death or serious injury to an animal faces a penalty of 2 to 4 years of prison.

     

    In addition, misdemeanors such as negligence, abandonment, and injuries to animals are the responsibility of the justices of the peace and involve fines ranging from US$100.00 to US$1,000.00, community work, and attending a 40-hour course against abuse and animal rights.

  • Harnessing Solar Energy in Panama: The Baco Solar Park Project

    Harnessing Solar Energy in Panama: The Baco Solar Park Project

    Renewable Energy is Expanding

     

    Panama has recognized the importance of diversifying its energy mix and reduce its dependence on fossil fuels. One of the sources of renewable energy that has started to be exploited is solar energy.

     

    In this respect, Panama has a great potential for harnessing solar energy due to its excelent geographical location and high incidence of solar radiation. The country receives a significant amount of sunlight throughout the year, making it an ideal location for solar energy projects.

     

    Recently, the renewable energy operator, Enel Green Power, has initiated the construction of the Baco Solar Park in Chiriquí, which represents the newest solar energy project in the country.  This park is expected to produce 84 GWZ annually.

  • Entrepreneurship Companies

    Entrepreneurship Companies

    Entrepreneurship Companies

     

    The entrepreneurship companies have their basis in Law 186 of 2020 and are regulated by Executive Decree 93 of 2021. They are a new type of legal entity that favors de easy incorporation of companies, without many requirements and with economic benefits.

     

    Some of the more salient features of these companies are:

     

    • They can be organized by 2 to 5 persons of any nationality.
    • It is not mandatory to have a Resident Agent.
    • Minimum capital of US$500.00.
    • Exemption from payment of Income Tax and Annual Franchise Tax during the first 2 years.
    • Use of electronic billing.
  • The Challenges and Risks of Implementing Artificial Intelligence in Law Firms

    The Challenges and Risks of Implementing Artificial Intelligence in Law Firms

    The Challenges and Risks of Implementing Artificial Intelligence in Law Firms

     

    While the benefits of AI in law firms are clear, there are also some challenges and risks associated with implementing this technology. One of the main challenges is the need for specialized knowledge and expertise in order to effectively implement AI systems. Law firms must have a deep understanding of technology and the legal industry in order to make the most of AI.

     

    Another challenge is the potential for AI systems to be biased or make mistakes. AI systems are only as good as the data they are trained on, and if this data is biased, the AI system may also be biased. This can lead to inaccurate results and decisions that are not in the best interests of clients.

     

    Finally, there is also a risk that AI systems may replace human lawyers, leading to job loss and a reduction in the overall quality of legal services. This is a real concern for many in the legal industry, and it is important for law firms to carefully consider the potential consequences of implementing AI systems before doing so.

     

    In conclusion, while the use of AI in law firms can bring many benefits, it is important to carefully consider the challenges and risks associated with this technology before implementing it. Law firms must be well-informed and prepared to make the most of AI and ensure that it is used in a responsible and ethical manner.

  • The Benefits of Artificial Intelligence in Law Firms

    The Benefits of Artificial Intelligence in Law Firms

    The Benefits of Artificial Intelligence in Law Firms

     

    Artificial Intelligence (AI) has been revolutionizing industries all over the world, and the legal industry is no exception. The use of AI in law firms has the potential to greatly improve the efficiency, accuracy, and profitability of these organizations.

     

    One of the key benefits of AI in law firms is the ability to automate repetitive tasks. This can include document review, contract analysis, and legal research. This not only saves time and resources but also reduces the risk of errors that could lead to costly mistakes.

     

    Another benefit of AI in law firms is the ability to improve the overall quality of legal services. AI can help lawyers to better understand the laws and regulations. This can help lawyers to better serve their clients and improve their chances of success in court.

     

    Finally, the use of AI in law firms can lead to improved profitability.

  • The Significance of Maritime Flags in Shipping: Part 2

    The Significance of Maritime Flags in Shipping: Part 2

    The Significance of Maritime Flags in Shipping: Part 2

     

    In addition to the flags used to indicate the nationality of a ship, and to communicate the ship’s status and intentions, flags are used for communications between ships and between ships and shore, there are also a number of special flags used for specific purposes. These include the flags used to indicate the presence of a pilot on board, the flags used to indicate that a ship is carrying hazardous cargo, and the flags used to indicate the presence of a doctor on board.

     

    In conclusion, the significance of maritime flags in the shipping industry cannot be overstated. They serve as a means of communication between ships and between ships and shore and play a critical role in ensuring the safe and efficient operation of ships.

  • The Different Types of Maritime Flags and Their Meanings

    The Different Types of Maritime Flags and Their Meanings

    The Significance of Maritime Flags in Shipping

     

    Maritime flags are an essential part of the shipping industry, and their significance cannot be overstated. They serve as a means of communication between ships, between ships and shore, and between ships and other vessels. In this way, they play a critical role in ensuring the safe and efficient operation of ships.

     

    One of the most important functions of maritime flags is to indicate the nationality of a ship. The flag flown by a ship is used to identify the ship and its owners, and to indicate the country under whose laws the ship is operating. This information is important for a number of reasons, including determining the jurisdiction in which the ship is operating and ensuring that the ship is in compliance with international maritime law.

     

    Another important function of maritime flags is to communicate the ship’s status and intentions. For example, the display of specific flags can indicate that a ship is in distress, that it is entering or leaving port, or that it is carrying dangerous cargo. These flags serve as a visual warning to other ships and to shore-based authorities, allowing them to take appropriate action.

  • Understanding their Importance in the Shipping Industry II

    Understanding their Importance in the Shipping Industry II

     

     

    An Overview of Maritime Flags: Part 2

     

    In the international maritime community, flags serve as a means of communication between ships and between ships and shore. They are used to signal a ship’s intentions, warn of danger, and provide information about the ship’s identity and status. The international maritime community has established a set of internationally recognized flags that are used for this purpose.

     

    The most common flags used in the maritime world are the national flags of the countries whose ships fly them. National flags indicate the nationality of a ship and are used to identify the ship and its owners. In addition to national flags, there are also a number of international flags that are used for specific purposes. Some of these flags include the signal flags used for communications between ships and the courtesy flags used when a ship visits a foreign port.

     

    In conclusion, maritime flags play a vital role in the world of shipping and are a critical part of maritime law. They serve as a means of communication between ships and between ships and shore, and their use is regulated by international treaties and conventions to ensure the safe and efficient operation of ships.

  • Maritime Flags: Understanding their Importance in the Shipping Industry

    Maritime Flags: Understanding their Importance in the Shipping Industry

     

     

    An Overview of Maritime Flags

     

    Maritime flags play a crucial role in the world of shipping and are a vital part of maritime law. The use of flags dates to ancient times when they were used to indicate a ship’s nationality, ownership, and purpose. In today’s world, the use of flags has evolved and become more sophisticated, but their purpose remains the same.

     

    Maritime flags are an important part of maritime law, and the rules and regulations governing their use are set out in international treaties and conventions. These rules are designed to ensure the safe and efficient operation of ships and to ensure that ships can communicate effectively with one another.

  • Future Logistics Strategy for Panama: Vision and Plans for Sustainable Growth

    Future Logistics Strategy for Panama: Vision and Plans for Sustainable Growth

     

     

    Future Logistics Strategy for the Panamanian Sector

     

    The Panama Canal is recognized for playing a central role in the “National Logistics Strategy 2030,” which is contemplated in Executive Decree No. 268 of April 10, 2018. In this regard, the executives of the Canal de Panama believe that the logistics strategy should be directed towards the 30% that complements the logistics sector, represented by maritime auxiliary businesses, to generate added value that can help restore the lost GDP due to the crisis that has arisen in Asia in the last year.

     

    As the first axis of this strategy, support and incentives provided by the Cabotage Law No. 266 of 2021 are sought to boost the local economy by enabling the creation of new national ports, which will allow the integration of all logistics sectors and thus incentivize the exportation of national products to the international market.

     

    The Panama Canal executives expect to put this plan into action with the construction and habilitation of the Baru port in the province of Chiriqui. This project, in addition to generating employment opportunities, will impact the cabotage service, the fishing and tourism industry, and the maritime auxiliary industry, contributing to sustainable growth and national and international connectivity.

     

     

  • Logistics Strategy for Panama: Advances and Objectives for 2023

    Logistics Strategy for Panama: Advances and Objectives for 2023

    Logistics Strategy for Panama

     

    Our lawyer Akeisha Anderson participated in the executive meeting on the topic “Logistics Strategy for Panama,” organized by the Chamber of Commerce, Industries, and Agriculture, held on February 14, 2023, at the JW Marriot Hotel in Panama City.

     

    The purpose of the meeting was to inform attendees about the advances of the logistics strategy that the Panamanian government has adopted for 2023, namely:

     

    • Through Executive Decree No. 268 of April 10, 2018 (which formally adopts the “National Logistics Strategy 2030”), the government intends to create an institutional framework to position Panama’s logistics industry and for each incoming government to work based on what this strategy establishes.
    • To turn Panama into an internationally recognized logistics hub by integrating the different sectors of the logistics area (air, sea, and land) in order to be able to compete with other countries in the region.
    • In cooperation with the National Authority for Government Innovation (AIG), create a technological program called “PORTCEL” that responds to the demands of international trade. In this regard, a single window is created that integrates the various platforms and systems related to logistics and foreign trade activities of the different government authorities, so that the user has access to documentation and procedures in real-time.