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INCREASE ON PANAMA CORPORATE ANNUAL FRANCHISE TAXES | 16-7-2012
 

Pursuant to Law 28 of May 8 of 2012, new increases on annual franchise taxes for corporations, Limited Liability Companies and Private Interest Foundations will take effect.
Such increases will be carried out as follows:

Corporate Entity
Upon Registration(1st year)
2nd year and thereafter
Corporation
US$300
US$300
Limited Liability Company
US$300
US$300
Private Interest Foundation
US$350
US$400
Foreign Corporation
US$300
US$300
General Partnership
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Nonprofit organization
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Default payment on the annual corporate franchise tax for more than 2 years will be penalized with a fine of US$300 and its corresponding surcharges.  No changes on any of the articles of incorporations of the corporate entities may be performed until the taxes are duly settled.



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ELIMINATION OF SOME TECHNICAL REQUIREMENTS
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