Panama Law firm established in 1968

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.

Electronic Billing in Panama: Taxpayer Obligations and Exemptions

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.

Single Tax Payer Registry Update (RUC)

Single Tax Payer Registry Update (RUC)Pursuant to Resolution No. 201-4393 of June 21, 2022, the Directorate General of Income (DGI) establishes the Tax Obligation for all legal entities to update the Single Tax Payer Registry (RUC, in Spanish). Pursuant to Resolution No. 201-4984 of July 12, 2022, the DGI establishes the procedure for registration of legalContinue reading “Single Tax Payer Registry Update (RUC)”