The General Director of Revenue, Publio de Gracia, extended the deadline for the delivery of accounting records by legal persons to their resident agents, as well as the sworn statement that they must make before the General Directorate of Revenue (DGI).
Law 254 of 2021 established that offshore legal entities, that is, those whose operations are not perfected in Panama, and entities that are exclusively dedicated to being asset holders are required to provide annually, as of April 30, the accounting records or a copy of the same relating to the fiscal period ending on December 31 of the previous year.
Similarly, the rule states that resident agents must submit an affidavit annually, by July 15, with the list of legal entities for which they perform the service of resident agent. In this list, the legal entities whose original accounting records and supporting documentation are kept in the offices of the resident agent within Panama must be indicated; legal entities whose accounting records and supporting documentation are kept in any other place other than the offices of the resident agent, who has the copies of the accounting records and the contact information of the person who has the originals; and the legal entities of which you do not have the information.
According to Resolution 201-2338, published in the Official Gazette this Tuesday, considering that the established deadlines are close to being fulfilled and that the necessary mechanisms are being implemented to execute said obligations, it is necessary to extend the deadlines.
Thus, legal entities incorporated before December 31, 2021 that are required by law, may deliver accounting records or copies no later than October 31, 2022. This, recalls the DGI, without prejudice to the fact that when the competent authority requires accounting records and/or supporting documentation, legal persons must provide it to the resident agent. For their part, resident agents must submit the first sworn statement to the DGI no later than December 31, 2022.
