We prepare, review and file your sworn income tax return with the DGI — individual or corporate — including the Certified Public Accountant endorsement that Law 280 requires. You hand over the information; we handle the rest, in English.
The most common question isn't how to file — it's whether you have to. These are the cases we see most often:
Not sure? That's exactly what we resolve for free in the initial assessment. We'd rather tell you that you don't need to file than have you find out too late that you did.
We don't just hand you a filed form. This service covers the whole path from the information you have today to your certificate of compliance.
We organize income, expenses, invoices and reconciliations. If something is missing, we tell you exactly what and why.
We determine taxable income, correctly applying the deductible expenses you are entitled to.
Where Law 280 requires it, we endorse the return ourselves. No need to hire a separate firm or pay twice.
We file on the DGI platform and hand you the receipt plus a breakdown of everything declared.
We tell you the amount, the deadline and the payment options, then verify the payment was applied correctly.
We obtain your paz y salvo, required for banks, notaries, public tenders and immigration procedures.
A 30-minute conversation about your situation. We tell you whether you must file, which period applies and what we need.
You receive a proposal with scope and a fixed price before we begin. You decide without pressure.
We build the return, review it with you and endorse it. Nothing gets filed without your approval.
We file with the DGI and deliver the receipt, the backup documentation and, if needed, your tax clearance.
Penalties and deadlines reflect the regulations published by the DGI and are subject to change. Confirm your specific case with us or through official channels before making decisions.
We don't publish a single flat rate because it would be misleading: an individual return with one income stream bears no resemblance to a company with inventory, payroll and ITBMS. What we can tell you is exactly what drives the price.
Salaried individual, freelancer or corporation. The more complex your income streams, the more analysis required.
How many invoices, bank accounts, employees and inventory items need to be processed for the period.
If your bookkeeping is current, the work is straightforward. If months or years need rebuilding, we quote that separately and tell you upfront.
Our commitment: after the free assessment you receive a fixed fee in writing with the scope detailed. If something emerges during the work that changes that scope — prior unfiled periods, for example — we tell you and you decide before we continue. You never receive an invoice higher than the one you approved.
All registered and operating legal entities must file. Among individuals, under Article 710 of the Fiscal Code, anyone with annual gross income above B/.11,000.00 from Panamanian sources is required to file. Salaried employees with a single employer are usually covered by payroll withholding, but there are exceptions: if you had more than one employer, professional service income, rental income or other revenue, you likely need to file.
Individuals file by March 15 and companies by March 31 each year. An extension can be requested: until April 15 for individuals and April 30 for companies. Important: the extension postpones filing, not payment — the tax itself must be paid by the original deadline to avoid surcharges and interest.
In many cases, yes. Law 280 of December 30, 2021 established that returns above certain income thresholds must be endorsed by a Certified Public Accountant (Contador Público Autorizado). The Balance Co. is a registered CPA firm, so we prepare and endorse the return ourselves — you don't need to hire a third party or pay twice.
Failure to file within the deadline carries a fine of B/.100.00 to B/.1,000.00. In addition, if you filed but did not pay, surcharges and interest accrue daily on the balance. Late filing also affects your tax clearance certificate (paz y salvo), which is required for banking, tenders and notary procedures.
Yes, and it is one of the profiles we serve most. We work fully remotely when needed: cloud documentation, video meetings and remote document signing, all in English. We regularly assist expats living in Panama and foreign owners of Panamanian companies who reside abroad.
Yes. We regularly work with taxpayers who have outstanding periods. We rebuild the bookkeeping, assemble the supporting documentation and file the late returns. Note that returns for prior periods may be subject to review by the DGI's audit department, which makes the quality of your documentation decisive. If that's your situation, see our catch-up bookkeeping service.
It depends on your profile and the state of your bookkeeping. An individual return with simple income is very different from a company with inventory, payroll and ITBMS. After the free initial assessment we give you a fixed fee in writing, before we start. No surprises at the end.
Thirty minutes, no obligation, in English. We tell you whether you're required to file, which deadline applies to your case and what it would cost for us to handle it.
e-Tax 2.0 enrollment, PAC selection and issuing invoices with a valid CUFE.
View service →We rebuild months or years of records and regularize your standing with the DGI.
View service →General accounting, ITBMS, CSS payroll, audit, certifications and more.
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