Tax Advisory
Baker Tilly is specialized in rendering tax and legal advisory services with a specific focus in corporate and commercial matters.
The objective of these services is to provide an analysis of the fiscal situation and evaluate the present taxation problems that possibly generate deficiencies in taxes such as: income tax return, sales tax, property tax, and the recommendations with respect to each.
Tax Diagnosis
The tax diagnosis service has been designed to evaluate if the company is complying with the obligations with the Internal Revenue Service.
Baker Tilly has developed an diagnosis program that includes all the regulations in the Fiscal Code of the Republic of Panama, Executive Decree 170 of 1993, that regulate income tax, and other laws, decrees and provisions related to income tax and other national taxes.
This service allows the company to know if they are complying with their tax obligations in a timely manner and to detect other weaknesses in case the company is subject to an audit by Internal Revenue Service.
Tax Strategy
The tax strategy services is focused to advise to the management of the company with respect to how to maximize the benefits of tax incentives use, or of some other regulation, that may contribute to reduce the impact of the tax burden in the operations and financial situation of the company, always having in perspective the appropriate administration of the risk and the compliance with the tax rules in force.
Tax Consultations
We are the capable to give advice to the companies regarding the construction of the taxation rules in force, when facing the development of new business lines and the implementation of new operations.
Income Tax
Based in the accounting information (General Ledger) provided by the management of the company, previously audited by us from the fiscal view, we prepare, we endorse and we submit the Income Tax Return.
With regard to the taxation aspect, it is necessary to make some considerations, to evaluate the company situation, in relation to the preparation of the Income Tax Return and the compliance with the rules in force.
Legal Advice
Conscious of the need of our customers for business advisors with the ability to provide comprehensive services to their companies, we have developed a legal consulting practice focused on the following services:
- Formation of corporations, limited liability companies, private foundations, among others.
- Constitution and advice to nonprofit associations.
- Drafting and reviewing contracts
- Trademark Registration
- Representation and facilitation of procedures to various public institutions such as the Ministry of Economy and Finance, National Securities Commission and the Ministry of Commerce and Industry.
- Property Value Updates at the Catastro Office.
