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Panama

Government of Panama Decrees Tax Amnesty

October, 2019

By means of Law 99 of October 11th, 2019, a general tax amnesty for the payment of taxes administered by the General Directorate of Revenue (“DGI” by its acronym in Spanish) was approved in Panama until February 29th, 2020.According to the supporting documents for the draft bill submitted before the...

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PTY: Panama rules the Public-Private Partnership (PPP)

September, 2019

Finally, Panama has created the Public-Private Partnership Regime as a mechanism to encourage private investment and employment, following the steps of most of the countries in the region.Public-Private Partnership known as PPPs, is a modality that adds up private capital, however sharing risks and...

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PTY: Superintendence of Banks updates provisions on Corporate Governance

August, 2019

On August 13th, 2019, the Superintendence of Banks of Panama issued Agreement 008-2019, by means of which the provisions on Corporate Governance are updated, hereinafter the Agreement.The Agreement establishes that the general license Banks must designate at least 30% of women in all the positions o...

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PTY: New Bidding Rules for the short-term purchase of Power and Energy

July, 2019

By means of the Resolution AN N°15540 of July 17, 2019, The National Authority of Public Services-ASEP compelled The National Electricity Transmission Company, ETESA, to recalculate the requirements for a neutral contracting level of 95% in the first two years and 90% in the third year at a 0% reser...

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