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Panama

PANAMA LEGAL TASK FORCE COVID-19 - UPDATE #14 - EXTENSION FOR LABOR CONTRACTS INTERRUPTION

April, 2020

The Ministry of Labor has automatically extended for a 30 days period, the suspension of labor contracts of companies which have been shut down by the National Government.On the contrary, companies that have closed due to the shutting down of other businesses shall request an extension of this suspe...

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PANAMA LEGAL TASK FORCE COVID-19 - UPDATE #13: NEW EXTRAORDINARY MEASURES

April, 2020

The Social Security Agency has extended the suspension of the judicial terms of the coercive jurisdiction and the legal terms of all administrative proceedings until May 15, 2020.The Colon Free Zone has announced the suspension of the payment for the leases of April, May and June 2020, except those...

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PANAMA LEGAL TASK FORCE COVID-19 - UPDATE #12 : EXTENSION FOR ADMINISTRATIVE PROCEDURES

April, 2020

Panamanian authorities extend the duration of Operation Licenses issued by the General Dictatorate of Medical Devices of the Ministry of Health which have expired from January 1, 2020.A term extension until July 15, 2020 is granted to present Transfer of Movables and Provision of Services Tax Declar...

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PANAMA LEGAL TASK FORCE COVID-19 - UPDATE #11 TAX INCENTIVES PER DONATIONS

April, 2020

The Government of Panama offers a tax incentive to individuals and companies for their donations to the monetary fund “Panama Solidario”, which will be 100% deductible as expenses for next year’s income statement.No fines, surcharges or interest shall be imposed for late payment or late presentation...

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