• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 4/28/2014

Panama - Courts address expert reports, tax assessments  

April 28: Decisions by courts in Panama address the following tax-related issues:
  • The Supreme Court of Justice (Third Chamber) held that the Administrative Tax Court of Appeals must consider any “expert reports” submitted during the proceedings at the administrative appeals phase, especially when such expert reports were required by the Administrative Tax Court and prepared by its own experts. The case involved the application of IFRS accounting rules for determining the costs of imported goods.

  • The Administrative Tax Court of Appeals reversed two rulings of the tax administration (Autoridad Nacional de los Ingresos Públicos), holding that the tax administration is not to rely exclusively on a presumption of the legality of tax assessments made by tax officers. Also, any determination reached during the administrative appeals phase must take into account the evidence submitted by taxpayers, or any evidence discovered by the tax court during the appeals phase.

Read an April 2014 report (Spanish) [PDF 265 KB] prepared by the KPMG member firm in Panama: Carta informativa

For more information, contact a KPMG tax professional in Panama:

Rafael Rivera

+50 720 80 700

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