September 5, 2017
Panama's Tax Authorities further extend first FATCA reporting date for Panamanian financial institutions to September 8, 2017
Panamanian financial institutions have been granted extra time for their first FATCA reporting. The new deadline is September 8, 2017.
Panama's Tax Authorities issued Resolution No. 201-5054, extending the first reporting date established in Executive Decree No. 124 for Foreign Account Tax Compliance Act (FATCA) purposes to September 8, 2017. Resolution No. 201-4488 previously extended the first reporting date from July 31, 2017 to August 31, 2017. (For more details about Resolution No, 201-44881, see Tax Alert 2017-1255.) The information to be reported in 2017 corresponds to calendar years 2014 to 2016.
For information related to calendar year 2017 and thereafter, to be filed in 2018 and subsequent years, the deadlines originally set forth in Executive Decree 124 of 2017 will continue to apply.