Who is required to file Form 930?
Pursuant to Article 762-I of the Tax Code, Panamanian taxpayers who in a given taxable year have carried out transactions with related or linked parties who are residents abroad are required to file a Transfer Pricing Report or Transfer Pricing Affidavit on Form 930.
When does Form 930 filing occur?
The Transfer Pricing Report filing deadline (Form 930) is within six months following the closing date of the tax period for which transactions are reported.
It is worth considering that under the special circumstances of the year 2020, an extension to Transfer Pricing was issued, which in the case of those taxpayers whose tax closing date was December 31, 2019, could file the Transfer Pricing Report until September 30, 2020.
How should Form 930 be filed?
According to the latest amendments issued by the GRD through Resolution N°.201-3338, the taxpayer must carry it out online by accessing the E-Tax 2.0 platform and search in the Affidavit and Documents section for the 2.0 version of the form to be filled out.
Is there a penalty for not filing Form 930?
If, according to article 762-I of the Tax Code, the failure to file the Transfer Pricing Report or Transfer Pricing Affidavit would be an infraction whose penalty amounts to 1% of the total gross amount of the transactions with related parties, with a maximum ceiling of B/. 1,000,000.