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CLD Insights

Do you have a Panamanian Society or Foundation with operations abroad?

Do you have Private Interest Foundations or Corporations established in Panama that operate abroad or are exclusively asset holders, within or outside Panamanian territory?

If you answered yes to any of these conditions, we inform you that through Resolution 201-1754 of March 2024, the General Directorate of Revenue has extended the deadline for Resident Agents to submit a Sworn Declaration regarding the receipt or non-receipt of the accounting records for the years 2021, 2022, and 2023, until August 31, 2024.

It is important to send a copy of the accounting records at least one month before the aforementioned date, as failure to comply with this mandatory requirement by law could result in your Corporation or Foundation being:

Fined between US$5,000 and US$1 million depending on the severity of the offense, recurrence, or magnitude of the damage.

Corporate rights suspended in the Public Registry, preventing it from registering any type of act, document, agreements, or obtaining related certifications.

The fine to lift the suspension is USD 1,000.00.

For immediate assistance, you may contact us via the following methods: or at +507 263-1042.


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