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How to benefit from the current tax amnesty

Recently, through Law 99 of 2019, a Tax Amnesty was granted on surcharges and fines for most overdue taxes, allowing taxpayers to pay off their tax debts with the substantial benefit of deducting a large percentage of their accrued penalties. Taxes on all type of persons, companies, foundations and properties are included in the scope…

Property Taxes & Family Patrimony Regime

Starting 2019, Panama has updated its property tax regime, by reducing rates per brackets and creating new ones. On top of that, a more beneficial rate and bracketed system has been created for what’s considered Family Patrimony or Main Dwelling. Let’s examine each regime. Based on the official value of the property, you’ll end up…

Promise to Purchase and Sale Agreement

Although being a modern country, with an updated legislation based on a Civil Law system, there are several topics and peculiarities within the process of acquiring a property in Panama that will certainly make it stand apart from any other process of its kind in the region. Our positive law establishes flexible enough guidelines to…

Real estate investment vehicles

When purchasing real estate, one would expect to end up holding title over the chosen property, having his or her name register as property owner at some government entity. Nonetheless, there are some cases where an investor can find himself in front of a different situation, where a few different rules may apply, this is…

Payment methods – 2019

When investing in real estate in Panama, it is common for parties involved in the transfer of real estate to prepare an agreement, which will regulate all steps, obligations and foreseeable scenarios for the next weeks or even months of the transaction; this document is commonly known as the “Promise of Purchase and Sales Agreement”….

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