Panama has published Executive Decree No. 46 of 27 May 2019 in the Official Gazette. The Decree provides for the implementation of Country-by-Country (CbC) reporting requirements. The key aspects of the Decree include:
- Ultimate parent entities resident in Panama are required to submit a CbC report if its group meets the standard EUR 750 million consolidated group revenue threshold in the previous year (or PAB equivalent as of January 2015);
- Constituent entities of MNE groups resident in Pan…