MANDATORY UPDATE OF THE TAXPAYER REGISTRATION NUMBER (RUC)

Dear Clients,

Please be advised that the Panamanian Tax Authority (Dirección General de Ingresos – DGI) has recently implemented the application of the sanction identified as “318 – Tax Penalty” in the amount of USD 500.00 with respect to corporations that did not formally complete the Taxpayer Registry (Registro Único de Contribuyentes – RUC) update procedure, a filing that must be carried out before the corresponding tax authority.

In this regard, our Firm has made the necessary updates. If any of your entities have been affected by the above, please contact us as soon as possible at +507 366-8400 or by email at anc-notificaciones@anorco.com.pa.

We appreciate your maintaining the confidentiality of this communication. Our purpose is to bring this information to your attention in a timely manner to facilitate the adoption of the appropriate measures.

We remain at your disposal to provide any legal support you may require.