Panama's National Assembly is considering Draft Law No. 641, the Economic Substance Law, which was submitted on 30 April 2026. As previously reported, the draft law will introduce economic substance requirements for members of MNE groups in Panama that derive passive income from abroad, including dividends, interests, royalties, capital gains, and real estate income. One of the key purposes of the introduction of the economic substance requirements is the removal of Panama from the EU's list …