Panama Corporation Tax Facts

Panama is a 100% "tax haven". Non-resident Panama Corporations offer the following tax advantages:

· No income tax.
· No capital gains tax.
· No interest income tax.
· No sales tax.
· No tax on issuance of corporate shares.
· No tax to shareholders.
· No stock sale or transfer tax.
· No capital stock tax.
· No property tax.
· No estate tax.
· No gift tax.
· No stamp tax.
· No succession tax.
· No inventory tax

Flat Annual Corporate Franchise Tax

The only tax paid by Panama Corporations (or Foundations) is the flat annual corporate franchise tax of US$300.

According to the Law, the corporate franchise tax payment deadlines are as follows;

Incorporation Date ..................Tax Payment Deadline

From 1 of January to 30 of June 30 : July 15
From 1 of July to 31 of December 31 : January 15

Late Payment Penalty:

If the flat annual corporate franchise tax ("taza unica") is not paid on or before the due dates mentioned above, the entity will be charged a late penalty of US$50 per year that the tax is not paid.

Second Late Payment Penalty:

If the flat annual corporate franchise tax ("taza unica") is not paid after 1 "deadline" period, the entity will be charged a second late penalty of US$300 for every additional "deadline" period missed thereafter, a US$300 late fee will be incurred.

The above applies to all "entities" (corporations, foundations, or trusts) registered at the public registry of Panama.

 

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