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NOTICE LAW 254 OF NOVEMBER 11, 2021 OF PANAMA Extends the obligations to maintain Accounting records and supporting documentation to Panamanian companies. Author: Dimisel Hernández, associate. The Republic of Panama has enacted Law 254 by which it obliges companies of Panamanian nationality that: (i) do not carry out operations within Panama (“Offshore”); or, (ii) are...

By José Jerez, Associate. By Resolution No. CNS-03-2022 dated April 18, 2022, the National Wage Committee approved a 24% adjustment to the minimum wage for workers in the construction and related industries, of which 21% will be effective as of the effective date of said Resolution and the remaining 3% as of October 1, 2022....

On April 19, 2022, Decree 125-22 came into force, which regulates processes related to the registration of cosmetics and personal and household hygiene products, as well as the control and supervision procedures related to their commercialization, whose provisions in summary are shown below: 1) It provides a definition of Cosmetic Product and Personal Hygiene Product,...

Author: Dimisel Hernández, associate. The General Directorate of Internal Taxes (DGII) has issued General Norm No. 07-2022 dated March 29, 2022, which regulates the form of presentation, registration and safekeeping of certified proof of payment by Notary Publics. The same becomes effective 180 days after its publication. Rule 07-2022 provides that Notaries Public may only...

The General Directorate of Internal Taxes (DGII) has issued General Norm No. 06-2022, which regulates the form of presentation, registration and safekeeping of reliable proof of payment in procedures related to motor vehicles and trailers. Regulation 06-2022 establishes that the DGII will abstain from processing the registration of operations that imply the constitution and transfer...

Article 36 of the Integral Management and Co-Processing of Solid Waste Law No. 255-20 establishes a special mandatory contribution, to every entity, based on its income, with the purpose of creating a fund to mitigate the negative effects of the current waste disposal and to develop an integral management system. The contributions shall be:  ...