Registry of Final Beneficiaries – Panama
During the years 2020 and 2021, several key pieces of legislation were passed in Panama. One of the most important pieces of legislation in Panama’s increasing arsenal of Anti-Money Laundering, Anti-Terrorist Financing and Anti-proliferation of weapons of mass destruction legislation during this period was law 129 of March 2020.
Panama Passport Climbs 5 Positions in Global Passport Ranking, Boasting One of the Most Powerful Passports in the Region
Panama has recently celebrated a significant achievement in the global passport arena.
BVI removed from EU list of non-cooperative jurisdictions
The British Virgin Islands (BVI) has been removed from the European Union (EU) list of non-cooperative jurisdictions for tax purposes on October 17th, 2023.
US Tax Compliance Requirements for US Entities: A Comprehensive Guide
In the United States, US tax compliance is not only an obligation for businesses but also a key aspect
Panama: 25% discount for early payment
We are pleased to inform you that the government of the Republic of Panama has enacted Law No. 401 on October 5, 2023 which establishes a special temporary measure providing a 25% discount on the Annual Government Tax for Panamanian private interest foundations and corporations that render their payment before November 30, 2023.Article 21
British Virgin Islands Dissolution of Existing Struck-Off Companies (BVI BC Amendments Act 2022)
This message is important for clients that have British Virgin Islands (BVI) “struck-off companies”. We would like to remind you that any BVI companies that were struck-off before the amendments to the BVI Business Companies Act (BVI BC Act) came into effect on January 1, 2023 (referred to as “existing struck-off companies”), that are not restored by June 30, 2023, will be dissolved automatically on July 1, 2023.
BVI Annual Financial Return for Companies
The BVI Business Companies (Financial Return) Order, 2023 “the Order” has been published in the BVI Gazette and is deemed to have come into force as of January 1st, 2023.
Amendments to the BVI Business Companies Act and BVI accounting requirements
BVI accounting requirements – Amendments to the BVI Business Companies Act 2020 and the BVI Business Companies Regulations came into force on January 1st, 2023.
Panama | Taxpayer Identification Number Registry Update
Updated August, 30th Dear Client, The Panama Tax Authority (DGI) has extended the deadline for updating all changes including new mandatory fields to the Tax Payer Identification Number (RUC) to October 31st, 2022. Taxpayers who do not update the information by the deadline will not be able to submit the documents required to comply with their tax […]
Panama | Accounting records requirements for legal entities
Accounting records requirements (Panama) | Law 52 of 2016, which establishes the obligation to keep accounting records requirements for certain legal entities, through Law 254 of November 11, 2021, introduced important amendments for legal entities that do not carry out operations that are perfected or consumed or have their effects within the Republic of Panama, as well as for legal entities that are exclusively engaged in holding assets, incorporating the obligation to keep accounting records and supporting documentation.
