The Ministry of Economy and Finance of Panama (MEF) has announced the beginning of a process to dissolve thousands of companies registered in the country. The process will affect legal entities whose tax and registration status remains suspended and that did not regularize their situation within the established legal deadlines. The main reason is the non-payment of the single annual fee for over ten years. As part of the first stage, more than 180,000 companies whose suspended status dates back, in some cases, to 2016, will be dissolved. The remaining companies will be processed progressively as information is validated between the Public Registry and the General Directorate of Revenues. The process will be carried out according to the applicable regime and will aim to exclude Panama from restrictive lists and comply with international transparency standards.
