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  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 10/17/2013

Panama - Taxes imposed on telecommunication companies, imported alcoholic beverages 

October 17:  New law in Panama concerns the income tax rate imposed on certain telecommunication services and indirect taxes imposed on imports of alcoholic beverages. The law (Ley 50) published in the official gazette in August 2013 provides that:
  • Telecommunication companies, of which the government owns 40% of the shares, are subject to the same corporate income tax rate as companies having no government ownership.
  • Imported alcoholic beverages are subject to the sales tax (ITBMS) and consumption tax (ICS).

Read an October 2013 report (Spanish) [PDF 240 KB] prepared by the KPMG member firm in Panama: Carta Informativa




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