August 13, 2020
Panamanian Tax Authority includes new category for foreign companies acting as legal representatives of Panamanian corporations within Registry of Taxpayers of e-tax 2.0 system
Panama’s General Directorate of Revenue has established through Resolution 201-3967 of 2020 (the Resolution) an updated registration mechanism within the Registry of Taxpayers (Registro Único de Contribuyentes, or RUC) of the tax platform “e-tax 2.0” for foreign companies that act as representatives of Panamanian corporations (i.e., joint-stock companies).
The Resolution enables the registration of such foreign companies in the e-tax 2.0 system (the Panamanian Tax Authority’s online tax information platform) in the “identification type” field, “linked third parties” tab and on the RUC module.
The Resolution also establishes information and documentation filing requirements for the registration of foreign companies that exercise the legal representation of Panamanian corporations before the General Directorate of Revenue. Specifically, the Resolution requires:
If the abovementioned documents are issued in a language other than Spanish, they must be translated into Spanish by a certified public translator in Panama.
For additional information with respect to this Alert, please contact the following:
Ernst & Young Limited Corp., Panama City
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Abogados, Latin American Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific