Author: Paula Alzate, Chair of the Legislation and Tax Committee / Partner and Director of the corporate department at Cedeño & Méndez.

The second half of 2025 opens with an active tax agenda that calls for particular attention from the business sector. The Directorate General of Revenue (DGI) has issued reminders and provisions that, while specific in scope, directly affect the tax compliance of individuals and legal entities, with significant administrative, penalty-related and financial implications.

From the Legislation and Tax Committee of AmCham Panamá, we consider it timely to share a summary of the main tax milestones currently in force, together with practical observations that may serve as a verification guide for directors, finance management and compliance teams.

1. Sworn declaration of accounting records – 2024 period

Deadline: July 15, 2025
Applies to: companies subject to Law 52 of 2016 and their resident agents

This obligation requires the electronic filing, through e-Tax 2.0, of a sworn declaration confirming the existence and proper retention of accounting records for the 2024 period. Failure to comply triggers an automatic fine, even if the company has had no economic activity.

Committee recommendations:

• Verify that the books are up to date and signed by an authorized certified public accountant.
• Confirm that the resident agent has current access to the system.
• Keep a digital backup of the filing, outside the platform.

2. Resolution 201-4523 – loss of the tax benefit on donations

Publication date: June 5, 2025
Applies to: nonprofit organizations that receive deductible donations

The DGI has published a list of more than 400 nonprofit entities that have failed to file mandatory reports. Donations made to these organizations will no longer be deductible until their status is brought into compliance.

Committee recommendations:

• Verify the current status of beneficiary entities before approving new donations.
• Include contractual clauses that allow funds to be suspended or redirected if tax recognition is lost.
• Request current documentary evidence issued by the DGI.

3. RUC update campaign

Deadline: August 31, 2025
Applies to: individuals and legal entities registered in the Single Taxpayer Registry

The DGI has reiterated the obligation to update the data recorded in the e-Tax 2.0 system, including the identification of the authorized certified public accountant and of the resident agent as related third parties.

Committee recommendations:

• Confirm that legal, contact and economic activity data are up to date.
• Ensure that designated users have the correct access rights for tax administration.
• Properly document the update as part of the corporate file.

4. Due date for the first 2025 estimated tax payment

Deadline: June 30, 2025
Applies to: taxpayers required to make payments of estimated income tax, complementary tax and educational insurance tax

This payment is the first of three installments for the year. Failure to make it results in surcharges and late-payment interest, and may affect financial management, particularly at companies with concurrent contractual obligations.

Committee recommendations:

• Assess the impact of this installment on half-year cash flow.
• Include these commitments in the corporate financial calendar.
• File formal, well-founded appeals if necessary in the event of a delay.

Tax compliance requires, more than ever, cross-functional coordination within organizations. These provisions should be approached not as mere formalities, but as part of a proactive compliance strategy. We urge companies to review their internal processes and to be prepared for the tax challenges of the second half of the year.