The phenomenon of international taxation in Panama is of recent date, since it was not until 2010 when we first heard about the Double Taxation Avoidance Agreements, given the important agreement that our country managed to reach with a Latin American giant: the United Mexican States.

This agreement opened the door to double taxation, transfer pricing and exchange of information., what once seemed a myth is now a reality, these 3 figures are focused on resolving the differences between the tax systems that countries have worldwide as it helps States to be able to collect the tax that corresponds to them without harming the other, while offering a fairer and more equitable taxation for taxpayers.

However, not everything is rosy since in order to access the benefits the interested parties must prove a series of facts and support them on the basis of rules, for its part, the Tax Authority can also carry out audits to verify the veracity and authenticity of the acts that generate the claim of a benefit, therefore, a bad advice in this field can lead to an unfair decision for the taxpayer. In this regard, we can indicate that litigation in this area is increasing and the Administrative Tax Court, the competent authority in second instance, is hearing a greater number of disputes related mainly to transfer pricing and double taxation treaties.

This type of injustice may be the result of: lack of advice, the quality of the evidence and misinterpretations by the authority itself. It should be remembered that international tax disputes are complex and become even more complicated if the dispute transcends the international sphere, as is the case with amicable proceedings.

It is for this reason that having a lawyer specialized in international taxation can provide solid support to the claim, since a true specialist has the knowledge and experience necessary to evaluate the validity of the claims and take appropriate legal measures to protect the rights of his client, at the same time he can also prevent dispute situations from reoccurring.

Since taxation is a subject that is constantly evolving, it is imperative that your advisor is up to date and can provide you with the tools you require to optimize your results outside the law without falling into a situation of risk and disrepute as the crime of fraud and tax evasion, therefore, the choice of an expert lawyer in international taxation is a wise investment for any entity that participates in international transactions or has business interests abroad.

Having the support of a lawyer specialized in international taxation can make the difference between the road to success and the journey of a tedious and complex litigation, we are LAC TAX your best alternative for local and international tax defense and advice.

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