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Tax and compliance calendar for a company in Panama

Last verified: 2026-10-29 · Status: Changing

A Panamanian operating company files ITBMS and stamp tax monthly within 15 calendar days after each month and deposits tax withheld on payments abroad within ten days. Each year it files its income tax return with the estimate for the next year by 31 March, pays estimated tax in three installments on 30 June, 30 September and 31 December, gives its accounting records to the resident agent by 30 April and pays the tasa única by 15 January or 15 July depending on its registration month. Dates ahead: employer social security rises to 14.25 percent on 1 March 2027, and the economic substance rules for foreign passive income apply from fiscal year 2027.

Panama's currency, the balboa (B/.), is at par with the US dollar, which circulates as legal tender; the Superintendencia de Bancos states that the official currency is the balboa, whose value is on a par with the United States dollar (checked 29 October 2026). USD figures therefore equal the balboa figures.

Key facts

ITBMS monthly return deadline	15 calendar days after month end daysCódigo Fiscal art. 1057-V parágrafo 10, as of 2026-10-29 · in force
Corporate income tax return deadline	31 March dateCódigo Fiscal art. 710, as of 2026-10-29 · in force
Individual income tax return deadline	15 March dateCódigo Fiscal art. 710, as of 2026-10-29 · in force
Estimated tax installments	30 June, 30 September, 31 December datesCódigo Fiscal art. 727, as of 2026-10-29 · in force
Accounting records to the resident agent	30 April dateLey 52 de 2016 art. 1, as of 2026-10-29 · in force
Tasa única due dates	15 July (registered January to June); 15 January (registered July to December) dateCódigo Fiscal art. 318-A, as of 2026-10-29 · in force
Employer Caja de Seguro Social rate from 1 March 2027	14.25 %Ley 51 de 2005 art. 101 (Ley 462 de 2025), as of 2026-10-29 · pending

The rule

1. ITBMS is settled and paid monthly; the return is filed within 15 calendar days after the month ends.Código Fiscal art. 1057-V parágrafos 9 and 10 as worded by Ley 8 de 2010 arts. 84 and 86, art. 1057-V, 2010-03-15 official text · verified 2026-10-29

2. Stamp tax is paid monthly by sworn return filed within 15 calendar days after each month, unless the DGI authorizes another mechanism.Código Fiscal art. 946 as worded by Ley 8 de 2010 art. 47, art. 946, 2010-03-15 official text · verified 2026-10-29

3. Tax withheld on Panamanian source income remitted to non residents, other than dividends, is delivered to the tax collector within ten days after the withholding.Código Fiscal art. 733 literal k as worded by Ley 27 de 2015 art. 4, art. 733 literal k, 2015-05-04 official text · verified 2026-10-29

4. The annual income tax return is filed by 15 March for individuals and by 31 March for legal persons, together with an estimated return for the following year whose income may not be lower than that declared; any balance due is paid by 31 March or within three months after the fiscal year closes.Código Fiscal art. 710 as worded by Ley 52 de 2012 art. 5, art. 710, 2012-08-28 official text · verified 2026-10-29

5. Estimated income tax may be paid in three equal installments no later than 30 June, 30 September and 31 December.
Example: Estimated tax of B/.90,000 for 2027: B/.30,000 each on 30 June, 30 September and 31 December 2027. / Three installments of US$30,000.Código Fiscal art. 727 as worded by Ley 52 de 2012 art. 6, art. 727, 2012-08-28 official text · verified 2026-10-29

6. Every year by 30 April, legal entities give their resident agent the accounting records, or a copy, for the fiscal year ended on 31 December of the previous year, and inform the agent in writing where the originals are kept if held elsewhere.Ley 52 de 2016 art. 1 as worded by Ley 254 de 2021 art. 17, Ley 52 de 2016 art. 1, 2021-11-11 official text · verified 2026-10-29

7. Each year by 15 July the resident agent files with the Dirección General de Ingresos a sworn declaration listing the entities it serves, split by where their accounting records are kept.Ley 52 de 2016 art. 3 as worded by Ley 254 de 2021 art. 19, Ley 52 de 2016 art. 3, 2021-11-11 official text · verified 2026-10-29

8. From the second year, the tasa única is due by 15 July for entities registered from January to June and by 15 January for those registered from July to December.
Cost to do it: B/.300 (US$300) per company, B/.400 (US$400) per foundation.Código Fiscal art. 318-A as worded by Ley 52 de 2016 art. 9, art. 318-A, 2016-10-28 official text · verified 2026-10-29

9. Beneficial owner changes must be reported to the resident agent within 15 business days of the change.Ley 129 de 2020 art. 12 as worded by Ley 254 de 2021 art. 35, art. 12, 2021-11-11 official text · verified 2026-10-29

10. Employer social security contributions are 13.25 percent of salaries until 28 February 2027, 14.25 percent from 1 March 2027 and 15.25 percent from 1 March 2029; each thirteenth month installment carries 10.75 percent (employer) and 7.25 percent (employee).Ley 51 de 2005 art. 101 as worded by Ley 462 de 2025 art. 84, art. 101, 2025-03-18 official text · verified 2026-10-29 · changed: Ley 462 de 2025 set the stepped employer rates; next step on 1 March 2027.

11. The economic substance rules for foreign source passive income of multinational group entities apply from fiscal year 2027.Ley 526 de 28 de mayo de 2026, art. 6, 2026-05-28 official text · verified 2026-10-29 · changed: Enacted 28 May 2026, effective for fiscal year 2027.

When	Obligation	Norm
Within 15 calendar days after each month	ITBMS return and payment	Código Fiscal art. 1057-V parágrafo 10
Within 15 calendar days after each month	Stamp tax return, if liable	Código Fiscal art. 946
Within 10 days of each withholding	Deposit tax withheld on payments abroad	Código Fiscal art. 733 literal k
Within 15 business days of any change	Report beneficial owner changes to the resident agent	Ley 129 de 2020 art. 12
15 January	Tasa única for entities registered July to December	Código Fiscal art. 318-A
15 March	Individual income tax return	Código Fiscal art. 710
31 March	Corporate income tax return, estimate for the current year and balance due	Código Fiscal art. 710
30 April	Accounting records or copies to the resident agent	Ley 52 de 2016 art. 1
30 June	First estimated tax installment	Código Fiscal art. 727
15 July	Tasa única for entities registered January to June; resident agent declaration to the DGI	Código Fiscal art. 318-A; Ley 52 de 2016 art. 3
30 September	Second estimated tax installment	Código Fiscal art. 727
31 December	Third estimated tax installment	Código Fiscal art. 727
1 March 2027	Employer social security rises from 13.25 to 14.25 percent	Ley 51 de 2005 art. 101
Fiscal year 2027	Economic substance rules for foreign passive income apply	Ley 526 de 2026 art. 6

Recurring calendar for a Panamanian operating company (fiscal year equal to calendar year)

Worked example

A company registered in September 2025 with an estimate of B/.120,000 of income tax for 2027 pays: the tasa única of B/.300 by 15 January 2027; its 2026 return and 2027 estimate by 31 March 2027; B/.40,000 on each of 30 June, 30 September and 31 December 2027; and gives its 2026 records to its resident agent by 30 April 2027.
Each month it files ITBMS by the 15th. All amounts are the same in US dollars.

Step by step

Record the registration month of each entity to know whether its tasa única falls on 15 January or 15 July.
Set monthly reminders for the 15th (ITBMS and stamp tax) and a ten day rule for withholding on payments abroad.
Close the books early enough to file the return and estimate by 31 March and deliver records to the agent by 30 April.
Budget the 1 March 2027 social security increase in 2027 payroll costs.
For group holding entities, document substance ahead of fiscal year 2027.

Common traps

The tasa única due date depends on the registration month, not on the fiscal year.
The estimate filed on 31 March cannot show income below the year just declared without triggering DGI review.
Late tasa única payments add a B/.50 surcharge per year, and three years unpaid lead to suspension (see Entities: annual compliance).
Holding companies with no Panamanian operations still owe records to the agent by 30 April.

Sources

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