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Panama Reduces Threshold for Designation as VAT Withholding Agent

|Approved Changes|Panama
Panama

Panama has published Executive Decree No. 128 of 29 May 2017, which amends the requirements for taxpayers to be designated as withholding agents for value added tax purposes. The main change is a reduction in the threshold for being designated from PAB 10 million in acquired goods or services in the previous year to PAB 5 million.

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