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 Offshore
Corporation Taxes and Dates of Renewals:
For mantain a Offshore Panama corporation
or Private Interest Foundation in good terms with the Panamanian
Government, each Panama corporation or foundation must pay
an annual corporate franchise tax ("tasa unica")
of US$300 to the "Public Registry".
If this Panama corporation taxes are not
payed, the Public Registry will not permit you to obtain any
Certificates of Incorporation for the entity,
which are generally required by banks from time to time, as
part of their due diligence procedures and policies. The certificates
of good standing are important for transferring of property
held within private interest foundations or corporations.
The panamanian government (According to Panamanian Law) corporate
franchise tax payment deadlines are based on the Incorporation
date:
Incorporation Date: From 1 of January to 30 of June 30 :
July 15
Tax Payment Deadline: From 1 of July to 31 of December 31
: January 15
Late Payment Penalty:
The entity (corporation or foundation) will be charged a
late penalty of US$50.00 if the annual government corporate
franchise tax ("tasa unica") is not paid on or before
the due dates mentioned above.
Second Late Payment Penalty:
the entity will be charged a second late penalty of US$300
if the annual corporate franchise tax ("tasa unica")
and first late penalty is not paid after the second "deadline"
period. For every additional "deadline" period missed
thereafter, a US$300 late fee will be incurred.
PANAMA CORPORATION TAX FEE
Operational Tax Filing: this is a tax filing
for operational entities (corporations or foundations), in
other words, entities that are operating physical businesses
or generating income from sources within the territory of
the Republic of Panama. This type of tax filing requires a
detailed declaration of income, duly audited by a Panamanian
Certified Public Accountant (CPA). The costs for operational
tax filings can vary from $250 or more depending on the nature
and size of the business.
Non-Operational Tax Filing: this is a tax
filing for Non-Operational entities (corporations or foundations),
in other words, entities that are operating offshore, outside
of the territory of the Republic of Panama, or entities that
are not operating businesses or generating income from sources
within the territory of the Republic of Panama. This type
of tax filing requires a simple declaration of non-operation
(or offshore operation), duly signed by a Panamanian Certified
Public Accountant (CPA). The costs for Non-Operational tax
filings are a flat $65 per filing.
All entities (operational or
non-operational) must file annually, from January 1st to March
31st.
NOMINEE DIRECTORS FEES
Nominee directors or nominee council members are an optional
service provided by our law firm. If requested, our law firm
provides the directors or council members that are required
for the formation of the corporation or foundation. The fees
for nominee directors or council services are $155 per year,
starting one year from the date of incorporation.
RESIDENT AGENT / OFFICE FEES
To keep a corporation or foundation in good standing with
our law firm, each entity must pay an annual resident agent
/ office fee of US$300 per year, starting one year from the
date of incorporation. The resident agent / office is the
law firm or attorney that represents the entity (corporation
and/or foundation) and the name of the law firm or attorney
and office address of the entity is stated on the public deed
of the entity at the Public Registry.
MAIL FORWARDING SERVICES
Mail forwarding services provides you with a post office
box, and a physical address in Panama where your corporation
and/or foundation may receive post mail correspondence or
courier packages. As the mail and/or packages are received,
they are forwarded to you as per your instructions. If you
have subscribed to the Mail Forwarding Service, then you paid
for the first year of service at the initiation of your subscription.
To renew your Mail Forwarding service, there is an annual
fee of $300.
Panama Legal Consultants
- Panama Law Firm -
For more information please contact us:
info@panamalegalconsultants.com
Tel: (507) 6714-9326
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