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September 23, 2020

Panama enacts law creating 'EMMA' special regime for manufacturing services

The EMMA regime seeks to promote foreign investment, create new job opportunities for both locals and foreigners and contribute to the transfer of technological knowledge in Panama.

Through publication in Official Gazette No. 29103-A on September 1, 2020, Panama enacted Law 159 of 2020 to establish the Special Regime for the Establishment and Operation of Multinational Enterprises that Render Manufacturing Services (EMMA for its Spanish acronym). The law is effective on December 1, 2020. For more information on the EMMA regime, see Tax Alert 2020-2094.


Contact Information
For additional information concerning this Alert, please contact:
Ernst & Young Panama
   • Luis Eduardo Ocando (
   • Carlos Márquez (
   • Ana Clement (
Ernst & Young, LLP, Latin America Business Center, New York
   • Ana Mingramm (
   • Pablo Wejcman (
   • Enrique Perez Grovas (