Accountancy in Panama
If you have a company in Panama, then you need to prepare annual financial statements on the activities of the company. Financial reporting, management report, and auditor’s report – we are ready to provide you with all these services for your business.
The specialists of our company will be happy to help you with bookkeeping in Panama. We provide a comprehensive, quality service for you. We provide all types of audit services including, financial reporting, management reports, and auditor’s reports, as well as give a consultation.
Bookkeeping for business
Our company provides consultations and highly qualified accounting services, on issues of legislation and taxation. Our company offers full accounting support in Panama.
Taxes in Panama
One of the reasons why Panama is a great choice for business formation is a low tax rate which is one of the lowest in all of the world – read more about the tax system in Panama below.
Learn about taxes
Panama is considered a tax haven – a tax haven. Many businessmen and investors have a company in this South American Republic. Learn about taxation and tax rate in Panamanian jurisdiction.
Following the requirements of national legislation, only those companies that sell their securities are required to submit annual financial statements in Panama. Annual reports are submitted by them in electronic form. Other companies are not required to submit financial statements.
The filing of financial statements in Panama is governed by securities market laws. Panama today uses International Financial Reporting Standards (IFRS). They are required to be used by companies that sell their shares on the exchange and can be used by small and medium-sized businesses.
Listed companies are required to file annual financial statements with the Securities Market Authority (SMV). The rest of the companies keep their accounting records at the place of business.
The annual financial report contains:
Financial reporting data is provided using a special online service of the Securities Market Authority. A request for financial statements is possible if the full name of the company and its registration number is available.
Financial statements provide detailed information about the state of the company and its creditworthiness, as well as the results of its activities.
The financial statements of Panamanian enterprises can be used to obtain information about customers in the implementation of foreign economic transactions, the purchase of goods and services, or equity participation in the capital of Panamanian enterprises, as well as when applying to the courts to collect debts.
These annual financial statements of enterprises are provided in strict accordance with Panamanian legislation and personal data protection requirements.
Requests are processed within one business day.
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