Tax Law
Payment of Annual Corporate Tax
Annual Corporate Tax Payment in Panamá
The annual corporate tax is the tax established by law that must be paid annually by corporations and Private interest foundations during the periods established by article 318-A of the Tax Code as follows:
Any taxpayer who fails to pay its corporate annual tax within the periods described above will be surcharged with US$50.00. Failure to pay corporate tax for two (2) consecutive periods will be sanctioned with a fine of US$300.00.
Finally, if the taxpayer allows three (3) years to elapse without paying the annual corporate tax will not only be sanctioned with the corresponding surcharges and the fine of US$300.00 but also with a strike-off fine of US$1,000.00, thus rendering the corporation or private interest foundation inactive.
If you require our services to arrange the payment of your annual corporate and/ or Private Interest Foundation tax, as well as any surcharge and/or fine, please contact us at info@jquijano.com.
If you require our services to arrange the payment of your annual corporate and/ or Private Interest Foundation tax, as well as any surcharge and/or fine, please contact us at info@jquijano.com.