Panama published Law No. 254 of 11 November 2021 in the Official Gazette No. 29413-A, which amends the legislation on international tax transparency and the prevention of money laundering, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction. Some of the main changes are summarized as follows: Accounting Records One of the key changes concerns the accounting record requirements for companies and foundations (legal persons) not carrying on operations within Panama, which includes an extension of the requirements to legal persons dedicated exclusively to holding assets within or outside of Panama. Records must be...