[vc_row top_and_bottom_padding=»0px» left_and_right_padding=»» bg_type=»» class=»» style=»»][vc_column animation=»fadeInLeft» delay=»400″ delay_offset=»» bg_type=»» min_height=»» top_and_bottom_padding=»» left_and_right_padding=»» width=»1/2″ id=»» class=»» style=»»][clear by=»50px» id=»» class=»»][vc_gallery interval=»3″ images=»449,450″ img_size=»full»][/vc_column][vc_column animation=»fadeInUp» delay=»600″ delay_offset=»» bg_type=»» min_height=»» top_and_bottom_padding=»» left_and_right_padding=»» width=»1/2″ id=»» class=»» style=»»][clear by=»35px» id=»» class=»»][text]

Square Tree Corp. boasts a staff of professionals able to assist the clients in the following areas:

[/text][clear by=»60px» id=»» class=»»][alert type=»custom» is_icon=»true» icon_fontawesome=»fa fa-check-square-o» heading=»» id=»» class=»» style=»» bg_color=»#a1d777″]Income Tax in Panamá[/alert][/vc_column][/vc_row][vc_row top_and_bottom_padding=»» left_and_right_padding=»» bg_type=»»][vc_column delay=»» delay_offset=»» bg_type=»» min_height=»» top_and_bottom_padding=»» left_and_right_padding=»» width=»1/1″][vc_custom_heading text=»Income Tax in Panama» font_container=»tag:h2|text_align:center|color:%23000000″ google_fonts=»font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal»][vc_row_inner top_and_bottom_padding=»» left_and_right_padding=»» bg_type=»»][vc_column_inner delay=»» delay_offset=»» width=»1/2″][clear by=»35px» id=»» class=»»][alert type=»custom» is_icon=»true» icon_fontawesome=»fa fa-check-square-o» heading=»» id=»» class=»» style=»» bg_color=»#a1d777″]Income Tax – Natural person[/alert][text]

The revenues of an individual in Panama are subject to the following taxation:

 

FROM

UP TO

Income Tax

0

11,000

0%

11,001

50,000

15% on the amount exceeding USD 11,000

50,001

AND OVER

USD 5,850 on the first USD 50,000 and 25% on the amount exceeding USD 5,000

[/text][/vc_column_inner][vc_column_inner delay=»» delay_offset=»» width=»1/2″][clear by=»35px» id=»» class=»»][alert type=»custom» is_icon=»true» icon_fontawesome=»fa fa-check-square-o» heading=»» id=»» class=»» style=»» bg_color=»#a1d777″]Income Tax – Legal entity [/alert][text]

The revenues of a legal entity in Panama are subject to different methods and rates accordingly to the activity conducted and the taxable income.

Traditional Method

This method applies to companies with taxable income below USD 1.5 million.

Starting from 1st January 2014 the following rate applies:

 

FISCAL PERIODS

GENERAL RATE

From 1st January 2011

25%

[/text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=»The income tax caused must be paid no later than 31st March of the following year (90 days).» font_container=»tag:h2|text_align:center|color:%23000000″ google_fonts=»font_family:Noto%20Sans%3Aregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal»][clear by=»35px» id=»» class=»»][text]

The Alternative Calculation of Tax INCOME (CAIR)

This method applies to legal entities whose taxable income exceeds USD 1.5 million.

The legal entity is to pay the sum greater of:

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Exemptions to the CAIR method

When the payment of the Income Tax calculated as per the CAIR method causes for the legal entity to incur in a loss, the taxpayers can request the non-application of CAIR.

Having verified and accepted the application of the legal entity, the General Directorate of Revenues will grant the option of using the traditional method for calculating the Income Tax for a maximum period of 3 years.[/text][/vc_column][/vc_row]