Panama Amends Fee for Registered Companies

The Ministry of Economy and Finance (MEF) has introduced in the National Assembly a bill that will increase the preferential interest rate on mortgages valued from $80,000 to $120,000, and has also modified the payment of the flat rate tax for corporations and legal individuals, the website PanamaAmerica.com reported.

The bill was presented to lawmakers by the minister, Frank De Lima. The project provides for an annual flat fee of $300 for corporations, limited liability companies and any other domestic or foreign legal persons.

A press release from the Ministry of Economy and Finance states that the purpose of the bill is “to generate additional resources to help finance the investment program established in the national government's strategic plan.”

Source: Ministry of Economy and Finance

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