Since become a member of the Inclusive Framework of BEPS on 31 October 2017, and following reviews of the MHQ regime by the OECD's Forum on Harmful Tax Practices, Panama agreed to introduce changes to its MHQ regime to comply with Action 5 of BEPS on Harmful Tax Practices. This Draft Tax Bill with proposed changes to the MHQ regime was submitted to the Panama National Assembly on 24 July 2018. Subject to approval, the measures would generally establish a transition period until June 30, 2021 for companies with an MHQ license to comply with the new rules. The following...