Global

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  • Service: Tax, Global Transfer Pricing Services
  • Type: Regulatory update
  • Date: 1/28/2014

Panama - Penalties for non-compliance with transfer pricing report, study 

January 28:  Taxpayers in Panama are required to present to the tax authorities (Autoridad Nacional de los Ingresos Públicos—ANIP) an annual transfer pricing report (Form 930) and a related transfer pricing study.

The transfer pricing report and study for the tax year ending on 31 December 2013 are due before 30 June 2014.


A law (Ley 114) enacted late in 2013 sets forth penalties for those taxpayers that fail to satisfy the transfer pricing report and study requirements. In general, the penalty to be imposed will be equal to 1% of the total value of the related-party transactions, with the penalty not to exceed 1 million balboas (approximately U.S. $983,000).


Read a January 2014 report (Spanish) [PDF 140 KB] prepared by the KPMG member firm in Panama: Monto máximo para las multas aplicables por la no presentación de los Informes de Precio de Transferencia



Contact a tax professional with KPMG's Global Transfer Pricing Services.




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