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Panama is a 100% "tax haven". Panama Foundations offer the following tax advantages:

- No tax reporting requirements.
- No income tax.
- No capital gains tax.
- No interest income tax.
- No sales tax.
- No tax to beneficiaries.
- No beneficiary transfer tax.
- No capital tax.
- No property tax (for non-Panamanian property).
- No estate tax.
- No gift tax.
- No inheritance tax.
- No stamp tax.
- No succession tax.
- No inventory tax

Flat Annual Corporate Franchise Tax

The only tax paid by Panama Corporations (or Foundations) is the flat annual corporate franchise tax of US$300.

According to the Law, the corporate franchise tax payment deadlines are as follows;

Incorporation Date ..................Tax Payment Deadline

From 1 of January to 30 of June 30 : July 15
From 1 of July to 31 of December 31 : January 15

Late Payment Penalty:

If the flat annual corporate franchise tax ("taza unica") is not paid on or before the due dates mentioned above, the entity be charged a late penalty of US$50.00 per year that the tax is not paid.

Second Late Payment Penalty:

If the flat annual corporate franchise tax ("taza unica") is not paid after 1 "deadline" period, the entity will be charged a second late penalty of US$300 for every additional "deadline" period missed thereafter, a US$300 late fee will be incurred.

The above applies to all "entities" (corporations, foundations, or trusts) registered at the public registry of Panama.

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