Panama: Tax, compliance audits of multinational enterprises

Panama: Compliance audits of multinational enterprises

It is being reported that the tax administration (Dirección General de Ingresos—DGI) recently implemented an audit and supervision program with respect to entities registered under the regime for multinational enterprises (Sede de Empresas Multinacionales—SEM), as required by Law 41 of 24 August 2007.

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An aim of the program is to verify the entity’s compliance with tax obligations and other formal measures under Panamian law. Along these lines, the DGI is verifying documentation and information that a SEM company would have with respect to income tax, salary payments, and other transactions.

 

Read an October 2016 report (Spanish) prepared by the KPMG member firm in Panama: Auditoría y Fiscalización de Empresas SEM

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