Accounting Services in Panama
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Panama entities must now maintain accounting records and supporting documentation — and provide copies to their resident agent under Law 52/2016 as amended by Law 254/2021. We keep Panamanian companies and foundations fully compliant.
Your Panama accounting partner
Panama’s territorial tax system means foreign-sourced income is generally not taxed locally — but record-keeping duties are now strict, with fines for non-compliance. We prepare and maintain your accounting records, coordinate with the resident agent, and handle local tax filings (including ITBMS where applicable).
Records compliance
Law 52/2016 + Law 254/2021 record-keeping handled.
Territorial tax
Foreign-sourced income generally untaxed locally.
Resident-agent liaison
Required submissions made on time.
Fines avoided
Penalties for missing records start at USD 5,000.
Why outsource Panama accounting
What our service covers.
Who we serve in Panama
Entities we keep compliant.
Offshore corporations
Holding and invoicing structures.
Private interest foundations
Wealth and succession vehicles.
Trading companies
Re-invoicing and international trade.
Real-estate holders
Panamanian property structures.
Operating businesses
Local entities with ITBMS obligations.
Dormant entities
Minimal-activity record files.
Panama accounting: pricing
Fixed annual packages by activity level.
Dormant / Holding
On request
- Annual records file
- Agent confirmation
- Franchise tax reminder
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Active — Light
On request
- Quarterly bookkeeping
- Records custody
- Annual filings
Active — Full
On request
- Monthly bookkeeping
- ITBMS returns
- Dedicated accountant
What is included
A complete Panama compliance file.
Bookkeeping
Transaction recording per Panamanian standards.
Records custody
Accounting records and supporting docs maintained 5 years.
Agent submissions
Copies/declarations to the resident agent as required.
Tax returns
Income tax and ITBMS filings where applicable.
Franchise tax
Annual corporate tax (tasa única) management.
Common compliance items
Typical Panama obligations we manage.
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Frequently Asked Questions
Still have questions?
If you didn’t find the answer, contact us — we’ll be happy to consult you!
Do Panama offshore companies really need accounting records?
Yes. Since Law 52/2016 (reinforced by Law 254/2021), Panamanian entities must maintain accounting records and supporting documents and make them available via their resident agent — with significant fines for non-compliance.
Where must records be kept?
They may be kept anywhere, but the resident agent must know the location and receive copies or confirmations as required by law.
Does my company pay Panama income tax?
Only on Panama-sourced income — Panama taxes territorially. Foreign-sourced income is generally exempt locally.
What is ITBMS?
Panama’s 7% VAT-style tax on local supplies of goods and services; we register and file where your activity requires it.
What if my entity has never kept records?
We regularise: reconstructing prior-year records and bringing the file current before penalties escalate.
What is the annual franchise tax?
The tasa única — a flat annual corporate tax payable to keep the entity in good standing; we track and pay it for you.
We Are Always Available
Our team ensures your business setup is smooth, efficient, and compliant with local laws. Contact us today to discuss your project.
Estonia
Ukraine
Cyprus
UAE
United States
Cyprus, Limassol
Arch. Makarios Av. III, No. 1-7, Mitsis Building 3, 3rd floor, Office 302, 1065 Nicosia
Estonia, Tallinn
Tallinn, Harju maakond, Lasnamäe linnaosa, Ruunaoja tn 3, 11415
UAE, Dubai
Building A1, Dubai Digital Park, Dubai Silicon Oasis, Dubai, UAE
Ukraine, Kyiv
Kyiv, Mykhailo Boychuk Street, Office 3011, 01103, Ukraine
United States, New York
228 Park Ave S, New York City, New York, 10003, USA
Get in Touch
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