New Forms for Filing Income Tax Declarations in Panama

Resolution No. 201-4370 of May 19, 2023

By which the new forms for filing income tax declarations for legal entities, under the general regime and by economic activity sectors, are adopted.

According to the aforementioned resolution, the following changes have been established:

1. New Forms: New electronic forms for filing income tax declarations have been adopted. Form 1, version 7, will be used by individuals, both salaried and non-salaried. Form 2, version 8, will be designated for legal entities. Additionally, a new form, Annex 1015, version 1, has been introduced to detail information on disabled individuals. Form 18, version 6, specific to Free Trade Zone Income, covering the Panama Pacifico and General Free Zone sectors, has also been introduced.
2. Exclusive Use of the e-Tax 2.0 System: All taxpayers and users are advised that the only method for filing income tax declarations will be through the e-Tax 2.0 system.
3. Validity and Exceptions: Taxpayers are informed that the new forms will be applicable for income tax declarations for the fiscal year 2022. Taxpayers who have filed their 2022 fiscal year declaration before the resolution’s effective date will not be affected by these changes.
4. Maintenance of Previous Resolution: Resolution No. 201-031 issued on January 2, 2013, remains in force in all its parts except for the modifications established in this new resolution.
5. Declarations for Previous Periods: Taxpayers needing to amend income tax declarations for periods prior to 2022, as well as those who filed the 2022 income tax declaration before this resolution’s effective date, may use the forms from Resolution No. 201-031 issued on January 2, 2013.
6. Certification by a Certified Public Accountant (CPA): Taxpayers with gross income exceeding eleven thousand balboas (B/.11,000.00) must have their income tax declarations certified by a Certified Public Accountant (CPA). The DGI will enable an option in the e-Tax 2.0 system called “CPA Registration/Modification.” Once registered, the system will provide a security code for certifying income tax declarations.

The new forms can be found in the annexes section of Resolution No. 201-4370 of May 19, 2023.