Single Tax Payer Registry Update (RUC)

Pursuant to Resolution No. 201-4393 of June 21, 2022, the Directorate General of Income (DGI) establishes the Tax Obligation for all legal entities to update the Single Tax Payer Registry (RUC, in Spanish).

Pursuant to Resolution No. 201-4984 of July 12, 2022, the DGI establishes the procedure for registration of legal entities in the RUC.

• The procedure requires that the entity indicate one of the following categories of obligations:

• Panamanian Source. 
• Foreign Source. 
• Exempt and Non-Taxable Source.  Asset holding entity.

• Identify the Resident Agent.
• Identify the Certified Public Accountant as a related third party.

Those entities that do not carry out the update, will not be able to file the corresponding forms to fulfill their tax obligations, which will result in penalties established by Law.

For more information on these matters, please contact us.