07 November 2018 Panama's National Assembly approves bill for calculating income subject to preferential tax treatment under an IP regime The bill would widen the scope of application of the transfer pricing rules under the Fiscal Code. Taxpayers that might benefit from an IP regime should monitor the progress of this draft bill. Panama's National Assembly approved a bill that establishes the method for calculating income derived from the "transfer or exploitation" of intellectual property (IP) assets. For more information on the bill, see Tax Alert 2018-1699. The Minister of Economy and Finance proposed the bill on July 16, 2018. The bill then went through three separate debates in the National Assembly, as required by the Constitution. The approved bill maintains all the provisions established under the proposed bill, but also establishes that transfer pricing rules will apply to entities that perform activities under preferential tax regimes from fiscal year 2019.
Document ID: 2018-2233 | |||||||||||||||||
