Panama: Multinational company headquarters, reporting requirements due 31 December 2020
Panama: Multinational company headquarters
The deadline is 31 December 2020 for multinational company headquarters licensed in Panama to comply with certain annual reporting requirements.
A reduced income tax rate of 5% is available for licensed multinational company headquarters (SEM), but there are annual reporting requirements (as well as other obligations). The annual reporting information must be submitted based on information available on the website of the SEM Secretariat, and must include general information and, for some reports, specific information regarding the business activities.
- SEM companies that obtained their license before 17 October 2017, only need to complete the information requested in Section I (general information)
- SEM companies that obtained their license after 17 October 2017 (or that after this date, added activities to their license) must complete information in Sections I and II and the related annexes.
In addition, SEM companies must submit their audited financial statements for the fiscal period 2019.
Read December 2020 report (Spanish) prepared by the KPMG member firm in Panama
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