Purchase of Tax Credits in Panama: Risks and How to Protect Your Company in 2026
The recent scandal involving the Directorate General of Revenue (DGI) and one of the country’s main banking institutions has raised alarms in the corporate sector. An internal audit detected the use of $36 million in illegitimate tax credits, uncovering a data manipulation network within the e-Tax 2.0 system. For foreign entrepreneurs and investors operating in the country, this case redefines the rules of tax due diligence.
Key Updates in 1 Minute
- The Origin of the Fraud: Corrupt officials reactivated old balances of large companies to divert them to shell corporations.
- Affected Third Parties in Good Faith: Legitimate entities acquired these credits under the guise of legality provided by the state platform itself.
- The DGI’s Response: Fiscalization and cross-validation processes have been tightened for any transfer of tax balances.
- The Business Lesson: It is no longer enough for a credit to appear approved in the DGI system; a complete historical trace of its origin is now required.
Is buying tax credits in Panama dangerous right now? Not if it’s done under a strict external audit protocol.
The Danger of Blindly Trusting the e-Tax 2.0 System
The assignment of tax credits is a completely legal and common practice under taxes in Panama. It allows a company with credit balances to transfer that right to a third party so that the latter can offset its ITBMS or Income Tax obligations. However, the fraudulent scheme demonstrated that official digital validation can be compromised from within the institution itself.
The network manipulated tax records corresponding to the years 2007 to 2011, modifying the email addresses of large multinationals so that the true titleholders never received alerts about the assignments. Subsequently, they fragmented the balances using “basket companies” (many of which were suspended or dissolved in the Public Registry) before selling them to the ultimate beneficiaries.
“The lesson from this case is clear: the appearance of digital legality is no longer sufficient guarantee to protect your business’s treasury.”
This means that traditional purchase audits, which only verified that the credit appeared in the DGI’s current account, have become obsolete.
How Does Credit Acquisition Change Before and After the DGI Audit?
To mitigate these compliance risks, purchase analysis must evolve. Below, we compare standard acquisition practices against the security standard required in 2026:
| Technical Aspect | Traditional Practice (Vulnerable) | Security Protocol 2026 |
|---|---|---|
| Balance Verification | Visual consultation of the account statement in e-Tax 2.0. | Forensic traceability of the credit’s origin (year of generation and audit of the initial payment). |
| Assignor Analysis | Review of the selling company’s basic legal status. | Direct confirmation with original shareholders and review of registered security emails. |
| Contractual Structure | Payment upon reflection of the assignment in the state system. | Guarantee trusts and joint liability clauses in case of DGI rectifications. |
If you are considering starting a company in Panama, this scenario reinforces the need for independent legal support that goes beyond mere company registration.
PanamaWay’s Analysis: Legal Security Against Extreme Fiscalization
The natural reaction of the Panamanian Government, through the Directorate General of Revenue, will be to tighten controls on all tax compensations. Companies operating under legitimate tax optimization rules will experience longer response times for their ordinary procedures.
Does this mean you should avoid tax optimization? Absolutely not. It means you should base your structure on real economic substance and not on last-minute fixes bought from unknown financial intermediaries.
A Real Case from Our Office:
Late last year, a client dedicated to technology distribution consulted us on the viability of acquiring ITBMS credits offered by a local broker with a 12% discount. Our forensic analysis team detected that the company assigning the credit had been inactive for five years and that the balance came from a supposed old income rectification.
We immediately halted the operation and, instead, restructured their international logistics chain, taking advantage of their tax residency in Panama under the principle of territoriality. This decision not only prevented them from being involved in a criminal investigation process today but also generated organic, permanent, and completely secure tax savings.
If you want to avoid unnecessary risks and protect your family’s and business’s capital, let’s analyze your relocation case without obligation.