Tax and Fiscal Reforms

Income Tax (ISR): A tax reform has been announced that includes a progressive increase in income tax rates for higher-income earners.
ITBMS (Value-Added Tax): The Tax on the Transfer of Movable Goods and Services has been extended to new products and services, including digital platforms and online services.
Single Taxpayer Registry (RUC): The deadline has been extended for all taxpayers, both individuals and legal entities, to update their information in the RUC.
Electronic Invoicing: The General Directorate of Revenue (DGI) has updated compliance obligations for users of Panama’s Electronic Invoicing System.