PATTON MORENO & ASVAT
 
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Business Letters
Getting the Deal Through – Loans & Secured Financing 2016 with contributions from Ms. Ivette Martinez. Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Loans & Secured Financing 2016, (published in August 2015; contributing editor: George E Zobitz, Cravath, Swaine & Moore LLP) For further information please visit Click Here
Tax Regulations in Panama: The Place to invest in the Americas by Elias Solis Gonzalez. This article appeared in the Lawyer Issue Magazine 2015 Click Here
The International Comparative Legal Guide to Shipping Law 2015 with contributions from Ms. Khatiya Asvat and Ms. Nadya Price

"This article appeared in the 2015 edition of The International Comparative Legal Guide to: Shipping Law; published by Global Legal Group Ltd
(http://www.glgroup.co.uk/), London.” (please hyperlink www.iclg.co.uk)
Getting the Deal Through - Aviation Finance and Leasing 2015 with contributions from Ms. María de Lourdes Marengo.

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Aviation Finance & Leasing 2015, (published in June 2015; contributing editor: Mark Bisset, Clyde & Co LLP). For further information please visit
www.gettingthedealthrough.com
Adding new talents

Ensuring our firm’s commitment for continued growth, we are pleased to announce the addition of new associates and assistant attorneys to strengthen our legal team to guarantee our customers an efficient and timely service.

We welcome Demetrio Rodriguez, Harry Aswani, Jorge Ventre and Michele Hibbert, who with their talent, experience and dedication will join the legal teams in the Practice Areas of Administrative Law, Commercial Law, Immigration and Labor Law, Real Estate and Corporate Law, among others.
This article appeared in the 2014 edition of The International Comparative Legal Guide to: Shipping Law; published by Global Legal Group Ltd, London (http://www.glgroup.co.uk/)
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Aviation Finance & Leasing 2014, (published in June 2014; contributing editor: Mark Bisset, Clyde & Co LLP) For further information please visit www.GettingTheDealThrough.com
This article appeared in the 2014 edition of The International Comparative Legal Guide.
New Law To Regulate Spin-Offs As Corporate Reorganization Scheme.
Securities Update: Regulation Of Forex Activities In Panama
Securities Update: Recognized Jurisdictions
Solar Energy Article
AMP Newsletter
This article was first published in Getting the Deal Through – Restructuring & Insolvency 2013, (published in November 2012; contributing editor: Bruce Leonard of Cassels Brock & Blackwell LLP). Reproduced with permission from Law Business Research Ltd. For further information please visit www.GettingTheDealThrough.com
A Practical Insight to Cross-Border Securitisation in 41 Jurisdictions
Tax update: Law 31 of 2011
Panama Chapter RI 2011
PMA Tax Update - Ley 49 - 2009
Offshore Banking Regulations in Panama
Hedge Fund Admin. Roundtable
Article published in Global Property Guide
Panama’s New Limited Liability Corporation Law
Article was first published in Getting the Deal Through – Restructuring & Insolvency 2009
Newsletter Immigration Law
"This article appeared in the 3rd edition of The International Comparative Legal Guide to: Securitisation ; published by Global Legal Group Ltd, London www.iclg.co.uk"

Administrative Law

Tax Law

With the purpose of keeping our clients duly informed and updated with regards to taxation matters, aware of the constant changes in this type of legislation, and the importance for national and international corporations to consider those changes in their financial operations, our lawyers keep up to date with the laws, rulings, administrative and judicial decisions governing this branch of the law, as well as with the different amendment that may arise.

We offer specialized counseling in the structuring of the activities of the corporation in order to take advantage of special incentives, benefits, exonerations and other mechanisms that allow a reduction in the tax impact over their activities.

We specialize in counseling our clients regarding:

  • Planning the tax impact in present and future activities.

  • Structuring the business to benefit from the most efficient tax treatment, in coordination with the company’s auditors and other advisors.

  • Representation before the administrative tax authorities in all types of matters related to their activities.

  • Representation of their interests regarding legislative proposals that may affect their activities.

  • Assistance in the recognition of special tributary regimes that may benefit them.

Important Aspects of Panama’s Tributary Regime

The income tax in Panama is imposed exclusively over income derived from operations effected inside the territory of the Republic of Panama.

In accordance to Article 694 of the Tax Code, all income generated from all individuals and corporate entities, national or foreign, domiciled or not in the Republic of Panama and derived within the national territory, is subject to income tax; nevertheless, these are important exceptions encourage the establishment of companies domiciled in Panama but not having a local effect.

In this respect, income obtained from operations effected in Panama but considered as foreign will not be considered income obtained from Panamanian sources, and thereby will not be taxable in Panama. Among these we can mention:

  • (a) Invoicing from an office established in Panama, the sale of merchandise or products for a sum higher than that for which said merchandise or products have been invoiced against the office established in Panama, as long as said merchandise or products are transferred only abroad.

  • (b) To direct from an office in Panama, transactions that are fulfilled, consumed or have the desired effect abroad; and

  • (c) To distribute dividends or shares of corporate entities, when such dividends or shares come from income not produced inside the territory of the Republic of Panama including income derived from activities mentioned in items (a) and (b).

It is important to mention that if an individual or corporate entity receives income from a Panamanian source and equally from a non-Panamanian source, it will only pay income tax over that part of the income obtained from the Panamanian source.

Our tax legislation grants on a series of incentives to foreign financing, to the investment in touristic activities, exports and other services related to maritime transportation, among others.

Initial Contact


MAIN OFFICES
Paseo Roberto Motta
Capital Plaza, Floor 8
Costa del Este, Panama
P.O. Box 0819-05911
Panama, Republic of Panama

Phone number:
(507) 306-9600
Fax numbers:
(507) 263-7887

E-mail:
info@pmalawyers.com
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