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Arosemena, Noriega & Contreras | blog.
Learn when to register, how to handle invoices and declarations, understand ITBMS rates, exemptions, and reduced rates, and why seeking tax advisory services is crucial.
Get answers to the most common questions about the Single and Private Registry of Final Beneficiaries (RUBF) in Panama. Learn about the system’s purpose, the responsible entity for compliance, registration requirements, costs, and the legal basis behind it.
Single and Private Registry of Final Beneficiaries in Panama: Enhancing Transparency and Combating Money Laundering
Learn about the significant initiative implemented by Law 129 of 2020 and Executive Decree No. 13 of 2022, which established the Single and Private Registry of Final Beneficiaries of Legal Entities (RUBF) in Panama. Understand how this registry promotes transparency in the financial system, combats money laundering, and strengthens the integrity of the country’s business system. Discover the required information that resident agents must provide and the role of the Superintendency of Non-Financial Subjects in administering and safeguarding the RUBF.
Learn about the recent Decree No. 147 of May 26, 2021, which mandates all taxpayers, including individuals and legal entities, to issue invoices or equivalent documents for legitimizing their operations. Discover the exemptions for liberal, artisan, and artistic professions, as well as lawyers who can opt for the Electronic Billing model instead of using fiscal printers.
Free Zones are part of a special simplified global regime for the establishment and operation of companies that contribute to the development of the country and the creation of jobs, framed in the global goods and services economy.
Law 51 of 2008, as amended by Law 82 of 2012 (the “Law”) establishes the regulatory framework for the creation, use and storage of electronic documents and the electronic certification of signatures in Panama.
The Government of Panama enacted Law 337 of 2022 (the “Law”), for the purpose of increasing the collection of taxes and duties.
In order to comply with the Foreign Account Tax Compliance Act (FATCA) and facilitate the exchange of tax information, Panama enacted the following laws…