Regulatory Alerts2006-06-19
Resolution No. 201-5600 Creating the Form for the Sworn Declaration of 5% Withholding as Advance Payment on Capital Gains Tax from the Sale of Bonds, Shares, and Other Securities
The General Director of Revenue of Panama issued Resolution No. 201-5600 to implement the mandatory 5% withholding on capital gains tax resulting from the sale of bonds, shares, and other securities issued by legal entities, as mandated by Law No. 18 of 2006. The resolution establishes the exclusive use of magnetic media for filing the new sworn declaration form and outlines the validation and receipt procedures between taxpayers and the tax authority. This administrative measure takes effect upon its publication in the Official Gazette and is legally binding for all purchasers of such securities.
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