Summary of the bill.
The draft bill proposes to amend Article 712 of the Tax Code of the Republic of Panama to govern endorsement of income tax returns. It specifies when an Authorized Public Accountant must prepare and endorse them, in line with Law 280 of December 2021. It also provides for the repeal of regulatory provisions on endorsement, assigns the imposition of fines for false information to the Directorate General of Revenue (Dirección General de Ingresos), and entrusts implementing regulations to the Executive Branch (Órgano Ejecutivo).