Panama: List of reportable jurisdictions updated; CRS reporting deadline extended

Extended due date of 31 August 2021 for filing for CRS reports in response to the coronavirus (COVID-19) pandemic

Extended due date of 31 August 2021 for filing for CRS reports

The tax authority in Panama took the following actions regarding FATCA and common reporting standard (CRS) reporting:

  • An updated list of reportable jurisdictions that Panama must automatically exchange financial information for tax purposes, to include Costa Rica and Grenada for the 2020 reportable year.
  • An extended due date of 31 August 2021 for filing for CRS reports, in response to the coronavirus (COVID-19) pandemic (the extension does not apply to FATCA reports).

Read a July 2021 report [PDF 356 KB] prepared by the KPMG member firm in Panama
 

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.