The Panama Primeview January 2024 Edition
Prime Solutions Tax & Legal
We support relocation, investing and doing business in Panama. We offer immigration, legal, accounting & tax services
Welcome to "The Panama PrimeView," your go-to source for the most valuable content on Panama taxation, business, immigration, accounting, real estate, and much more. In this newsletter, we are excited to bring you a curated "digest" of the latest insights, trends, and expert perspectives on taxation, legal matters, business strategies, immigration updates, real estate developments, and beyond.
?? Are you intrigued by the dynamic and promising world of Panama real estate? Join us in an enlightening conversation where, Giovanna Bernal interviews Ciara Caponi, a distinguished real estate expert and partner at Engel & V?lkers Panama.
In this exclusive session, Ciara sheds light on: The current trends shaping Panama's real estate market.- Investment opportunities and hotspots in Panama.- Insights on the expat lifestyle and property investment in Panama.- Legal considerations for international real estate investors. Watch now: ?? https://lnkd.in/eVFya8bX
?? Dive into the comprehensive guide for Panama Residency Permits in 2024. WATCH NOW: https://lnkd.in/eCUk9qjWDiscover the most successful strategies and insider tips that dominated 2023, setting you up for a seamless transition to living in beautiful Panama. Whether you're seeking a peaceful retirement, an adventurous relocation, or a strategic investment opportunity, this video is your first step towards making your Panama dream a reality.Learn about the different types of residency permits available, including the Friendly Nations Visa, Pensionado Program, and Short Term Visas, and find out which one is the best fit for your needs.
Giovanna Bernal joined the welcome dinner of Black Expats in Panama (BEIP) Tour No. 25! Giovanna shared her knowledge and insights about residencies available for expats in Panama. A heartfelt thank you to Charlotte Van Horn, the dynamic founder of Black Expats in Panama, for extending this invitation. Charlotte's dedication to building a community and providing valuable resources for those exploring relocation to Panama is truly commendable. This tour is not just a journey; it's an opportunity for visitors to deeply immerse themselves in the rich culture of Panama and explore the possibilities of making this beautiful country their new home. ????
The Panama Ministry of Economy and Finance has launched a new automatic tax compliance verification tool on its website. This tool enables taxpayers to easily check their tax compliance status for all obligations with the Directorate General of Revenues (DGI). It aims to facilitate voluntary compliance by providing a simple way for users to verify their status and update any outstanding obligations via email, ensuring privacy and efficiency. This initiative, available since January 17, 2024, represents a significant step towards leveraging technology to enhance tax administration and compliance in Panama. For more details, visit the [Ministry's website](https://www.mef.gob.pa/2024/01/dgi-introduce-un-verificador-de-cumplimiento-tributario-automatico-en-su-portal-web/).
领英推荐
?? Happy Lunar New Year! ??As we welcome the Year of the Dragon, a symbol of strength, luck, and prosperity, we extend our warmest wishes to everyone celebrating. May this new year bring you and your loved ones happiness, health, and success.Wishing you a prosperous and auspicious Lunar New Year!
Important Tax Deadlines Announcement
Ensure to submit your Municipality Tax Return by March 31st to avoid a US$500 penalty. Similarly, DGI Income Tax Returns must be filed by the same deadline to prevent penalties of US$500 for companies and US$100 for individuals.
Additionally, pay your 2024 property taxes before April 30th, 2024, to benefit from a 15% discount. Don't miss these critical deadlines to stay compliant and save!
Individuals have an exemption from income tax on the first USD $ 11,000.00 of the net taxable income and must submit the annual return of income that expires on March 15th?of each year. It is possible to request an extension until April 15 before the expiration of the aforementioned period before the General Directorate of Revenue through the E-Tax system.
Legal entities that generate local income have the obligation to submit an income tax return where they must make in detail of all their income and deductible expenses for their fiscal period. The fixed rate for legal entities is of 25% of the net taxable income.?The deadline for the annual tax return for legal entities, expires on March 31st of each year.
Giovanna Bernal TEP 乔安娜 recently joined a Tax Conference organized by the Panama ???? Public Accountants Association.
We hope you found value in this edition of our newsletter, and we invite you to reach out with your questions, feedback, or specific topics you'd like us to cover in future issues. Your input is invaluable, and we are here to serve you better. Stay tuned for exciting updates and insights in the upcoming editions of The Panama PrimeView.