Author: michaelm

Panama’s tax authority is urging all registered taxpayers to update their information in a national database before a year-end deadline. The General Directorate of Revenue (DGI) confirmed the mandatory update for the Taxpayer Single Registry (RUC) must be completed online by December 31, 2025. Failure to comply will result in financial penalties for both individuals and corporations.Official figures show 325,627 taxpayers had already updated their records by early December. That number represents roughly 35 percent of all entities registered in the system. Thousands of individuals and legal entities still need to complete the process through the government’s e-Tax 2.0 online…

Panama’s hotel industry is projected to close 2025 with an average occupancy rate of 56.5 percent, a figure that leaves more than four thousand rooms empty nightly and limits new investment. Preliminary data from the first half of 2026 points to sustained growth in tourist arrivals, but industry leaders argue the country must intensify its international promotion and improve service quality to compete with regional rivals.Victor Concepcion, a director of the Panamanian Hotel Association (Apatel), confirmed the estimate this week. He noted the rate represents a two percent increase over 2024, a positive but insufficient step. The current level, he…

A vessel carrying migrants sank in the Caribbean Sea off Panama’s northern coast on Saturday, resulting in one confirmed death. The Servicio Nacional Aeronaval (National Aeronaval Service of Panama) led rescue operations for the boat, which was traveling through the costa arriba region of Colón Province, Panama.Authorities reported the incident occurred in the maritime sector between Playa Chiquita and Palmira. Preliminary information indicated 35 people were on board, including 33 migrants. Rescue teams managed to save 34 individuals, providing immediate medical attention on shore. The identity of the deceased person has not been released pending notification of family.Security Forces Coordinate…

Panama’s tax revenue increased by 15.2 percent through the first ten months of 2025 compared to the same period last year. Preliminary data from the nation’s revenue agency shows collections still fell short of the government’s annual budget target by a significant margin, highlighting ongoing fiscal challenges.The Direct General Directorate of Revenue (Panama) reported cumulative tax income of $5.21 billion from January to October. This figure, while showing recovery, remained $1.16 billion below the budgeted goal for that timeframe. The revenue shortfall represents an 18.2 percent gap against projections.Monthly Performance and Direct Tax StrengthOctober alone saw cash tax revenues of…

Three construction groups submitted bids this week for a major public works contract to restore Panama City’s iconic coastal beltway and causeway. The Ministry of Public Works (Panama) is managing the public tender, which carries a reference budget of 26.1 million dollars for comprehensive rehabilitation work.Officials opened the economic proposals virtually on December 26. The project scope covers extensive green space maintenance alongside critical civil, road, and structural interventions across three defined zones.Bidding Details and Project ScopeThe contract will be awarded by specific line items, allowing for independent work assignments across strategic areas. This approach provides flexibility in managing the…

Panamanian exports grew 3.1 percent in the first ten months of 2025, reaching $835 million, but industry leaders warn a hidden price war is eroding profits. The head of the Panamanian Exporters Association (APEX) told La Prensa that new tariffs from the United States are causing international buyers to slash what they pay for Panama’s goods. This secondary “rebound effect” compounds direct losses from higher U.S. duties on products like fish and bananas.Official data confirms a sharp 30 percent drop in the value of Panamanian exports to the United States this year. While overall export volume appears positive, the figures…

National police officers in Panama seized 240 packages of suspected narcotics and arrested seven individuals during a coastal operation on Thursday. The significant drug bust occurred near El Toro beach in the Pedasí district of Los Santos Province following coordinated intelligence work.Authorities discovered the drugs distributed inside eight large sacks hidden in a wooded area close to the shoreline. The operation was conducted jointly by the National Police of Panama and the nation’s Public Ministry. Among the seven people taken into custody is one Colombian national, with all suspects allegedly connected to the seized contraband.Intelligence Leads to Major Coastal SeizurePolice…

Panama and Costa Rica have agreed to restart direct negotiations aimed at resolving a protracted bilateral trade conflict over agricultural products. The decision follows a recent meeting between Panamanian President Jose Raul Mulino and his Costa Rican counterpart, Rodrigo Chaves, in San Jose. Both leaders have now instructed their trade and agriculture ministers to find a negotiated solution, moving beyond a stalled World Trade Organization process.The dispute has effectively blocked significant two-way trade in goods like meat, dairy, and various fruits for years. It escalated in late 2024 when a WTO panel ruled against Panama’s import restrictions, a decision Panama…

The Panamanian government has awarded a major contract to repair and maintain streets in the country’s Northern District. The Ministry of Public Works (Panama) approved the $9.3 million project on December 17.A consortium named Panama Norte, formed by Concreto Asfáltico Nacional, S.A. and Conansa, won the public tender. Their bid came in under the government’s reference price of $10 million. Work will focus on the districts of Chilibre, Las Cumbres, and Alcalde Díaz.Extensive Roadwork Planned for Three DistrictsProject scope documents list numerous streets slated for rehabilitation. In the Chilibre District, crews will repair El Roble, Agua Buena, Don Bosco, La…

Panama’s National Migration Service is experiencing a significant surge in visitors at its main offices this week. The increased traffic stems from a deadline for foreign residents to update their address information, with a penalty-free moratorium set to expire on December 31, 2025. Officials confirmed the high volume is directly tied to this deadline, urging residents to complete the required paperwork promptly.  Residents hearing about the deadline from their lawyers and friends are hurrying to immigration offices across the country, in an effort to comply with the law. The agency issued a public statement explaining the situation. It aims to…