La Organización para la Cooperación y el Desarrollo Económico (Ocde) mantiene una campaña para la implementación universal de un sistema pensado para combatir lo que dicho organismo denomina Erosión de las Bases y Transferencia de Beneficios (Base Erosion and Profit Shifting o Beps, por sus siglas en inglés). Lo llamaremos Beps. En esencia, Beps consiste en un sistema multilateral de intercambio automático de información tributaria entre los países que suscriban el acuerdo correspondiente.

Este proyecto Beps de la Ocde constituye un cambio importante respecto de la política que sobre intercambio de información tributaria había venido manteniendo dicha organización durante los últimos años, que consistía en la promoción de redes de intercambio bilateral de información entre países. Este cambio de exigir intercambio bilateral a un sistema de intercambio multilateral, la Ocde ha manifestado que se justifica por el hecho que los sistemas de intercambio bilateral tienen falencias que se prestan para esquemas de erosión de las bases del impuesto corporativo sobre la renta. Según la Ocde, el nuevo sistema está llamado a restaurar la confianza de las personas en sus sistemas impositivos, nivelar el terreno de juego para las empresas y proveer a los gobiernos con herramientas más eficientes para asegurar la efectividad de sus políticas fiscales soberanas. Además, sostiene la Ocde, el nuevo sistema de intercambio multilateral que propone, vendría a estandarizar normas y procedimientos, con lo cual el sistema redundaría en beneficios incluso para las empresas multinacionales.

¿Cuál es la posición de Panamá sobre el intercambio multilateral?

En primer lugar, en la reciente sesión anual de la Asamblea General de la Organización de Naciones Unidas (ONU), el presidente de la República, Juan Carlos Varela, expresó durante su intervención que Panamá acepta la necesidad de establecer controles adecuados para asegurar que sus sistemas financiero y logístico sean utilizados solo para fines legítimos, y que para ello el país ha venido adoptando normas y sistemas de control cada vez más estrictos. En este sentido, indicó que Panamá acepta que debe migrar hacia un sistema de intercambio automático de información fiscal. Sin embargo, acotó que Panamá continuará suscribiendo acuerdos de intercambio de información bilaterales, como lo ha venido haciendo con los principales socios comerciales del país.

Además, el presidente Varela puntualizó, en su intervención en la ONU, que cualquier cooperación de la República de Panamá en materia de intercambio de información fiscal estará condicionada a dos factores: A la capacidad y circunstancias nacionales (de Panamá) y el entorno geopolítico internacional y que se respete el derecho soberano de cada país a tomar las medidas necesarias para garantizar que el intercambio de información fiscal persiga el bien común y no sea utilizado para perjudicar la competitividad de unos países frente a otros.

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Lo anterior fue en octubre de 2015. Pero posteriormente, la postura del país ha sido reafirmada por la Cancillería. Gian Castillero, asesor del Ministerio de Relaciones Exteriores para temas económicos, declaró a mediados de diciembre de 2015, a un importante medio escrito de noticias financieras del país, que Panamá no suscribirá el acuerdo multilateral que resulte del proyecto Beps de la Ocde, y que en cambio continuará negociando y suscribiendo acuerdos bilaterales para el intercambio automático de información fiscal, sobre la base de los criterios enunciados por el presidente Varela en su intervención ante la Asamblea General de la ONU.

¿Por qué Panamá prefiere la vía de acuerdos bilaterales?

Castillero fue bastante franco en su declaración publicada antes referida, y dijo que la Ocde basa su proyecto Beps con intercambio multilateral sobre la premisa que todos los países son iguales, premisa que señala como equivocada y que hay muchos países con retos que pueden ser terriblemente afectados por el intercambio automático de información fiscal. Fue claro al señalar que se refiere a los riesgos de secuestro y al riesgo que la información de los activos de una persona pueda ser usada para fines políticos. Es por esto que Panamá -señala- se reserva su potestad soberana para decidir con qué países suscribe acuerdos de intercambio de información.

¿Dónde estamos parados?

On August 3, 2015, Ernesto González, CPA, head of Mossack Fonseca Accounting Services, gave an enlightening interview to representatives from our Marketing Department. Ernesto has been with the firm for more than 25 years and has consistently delivered outstanding results for our clients.

We would like our readers to get to know you. Please tell us about yourself and your career.

1. I am a Certified Public Accountant. I graduated from the University of Panamá. I have an MBA with a concentration in Finance. I have devoted myself to accounting since I was twenty. Before joining Mossack Fonseca & Co., I worked for various auditing firms, including Peat Marwick which today is KPMG. I began at Mossack Fonseca & Co. as an external auditor, and subsequently became part of a team monitoring and providing advice to the accounting department. I also spent one year as a consultant. Later, I began working in the accounting department.

How many years have you been with MF?

2. I have been with the firm for 25 years. The previous position I had was as Group Controller, and then came a series of restructuring steps and the idea to have a business unit to provide Accounting Services. The Accounting Services unit was primarily formed to provide services to companies which today are requesting accounting records. We now have two years in operation. In the first year of the organization, I created the company, and established the required policies and regulations. The business unit is called International Accounting Services Associates. The business unit is duly registered with the Technical Board of Accounting of the Ministry of Trade and Industry. We are CPAs who are regulated by the government and authorized to provide all types of accounting and auditing services.

What are the main provisions of Law 47?

3. Law 47 basically was created to regulate this little phrase that we now call “Know Your Client”, mostly involving financial structures. Initially, when Mossack Fonseca & Co. was established we already had a department called compliance. As CPAs, within the accounting business unit, we have relied on support from the compliance department so that the rules of Law 47 are met, but really the main regularization is Law 23 of 2015 created in the month of April; this law provides that certain professions are regulated, including CPA’s (who previously were not regulated). However, the Superintendency of Banks and the Superintendency of Securities of Panamá already anticipated and promulgated certain regulations for the institutions that they oversee. Mossack Fonseca & Co. is the Trustee service of that regularization. Law 23, which is complementary to the amendment of Law 47, brings new requirements and regulations not only for the compliance department, but also for various professions. Additionally, it gives you the opportunity to know the financial law that applies to your client, and also creates a new law for the non-financial (Professionals) and financial (Banks, Securities Exchange, etc.) watchdogs governed under this law. The law also makes mention of those people who, merely by family relationship, can make a person deemed “politically exposed”, and therefore subject to restrictions under the law. The family relationships that make a person politically exposed include cousins, nephews, nieces, and others. The law also requires that professional service providers be aware of all relevant financial transactions.

Why do MF clients need accounting services to comply with the new law?

4. First, some background information. Mossack Fonseca customers need this service because many years ago in the US the OFAC (Office of Foreign Assets Control) was created to regulate foreign assets in many jurisdictions where Mossack Fonseca & Co S.A. does business, such as BVI, Bahamas, and others. Since Mossack Fonseca & Co S.A. offers the service of incorporation, it is, under the law, required to keep all accounting files and thus be aware of the financial situation of each company. In theory, when a client requests incorporation of a company they do so in order to carry out some activity. The nature of the activity can be wide-ranging, such as to hold real estate or an investment portfolio. In any case, under the law, they must keep accounting records. Clients should be aware of the accounting requirements in order to use their company in accordance with the laws governing such entities. Today, in several jurisdictions (BVI, Bahamas, etc.) they already have audit institutions (Financial Services Commissions), which regulate financial institutions and oversee the activities of companies. Even if a company has diverse operations, the director is the person who must have knowledge and control of the financial situation, and indeed has ultimate responsibility for the company.

What are the Benefits to the client of using MF?

5. For clients, one of the biggest benefits of using Mossack Fonseca & CO., is our confidentiality; we have an integrated professional team where one will be coupled with both the legal and financial departments, and will benefit from our extensive experience in all aspects of legal and financial matters.

How has MF Accounting Services prepared to comply with the new law?

6. We have put into place policies and procedures to ensure 100% compliance with the new law. In addition, we are always up to date on legal and regulatory changes. Our team of lawyers and accountants are well informed via their many different affiliations with government and peer organizations.

What recommendations do you have for MF clients to help them prepare for the change?

7. We have informed our clients of the new requirements, advised them on what they need to do, and let them know that we can handle all of their accounting matters. In general, people should be prepared for the change as we are. We constantly update our clients on all relevant changes and provide the advice they need to comply with such changes. We are proud to be able to provide our clients with the security and confidence of knowing that we will provide them with the very best service in the industry.

La Fundación Grupo Mossack Fonseca se convirtió en el primer patrocinador del Día de las Buenas Acciones 2016, organizado por la Fundación JUPÁ, B´nai B´rith y Voluntarios de Panamá. Mediante este aporte se hace posible efectuar en nuestro país la segunda versión de esta fiesta mundial. Leer reseña

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On November 25, 2015, the European Parliament (EP) approved a resolution to make corporate taxes “fairer across Europe”. The resolution calls on EU member states to “agree on mandatory country-by-country reporting by multinationals of profits and taxes, a common consolidated corporate tax base (CCCTB), common definitions for tax terms, and more transparency and accountability with regard to their national tax rulings for companies”, a press release issued by the EP said.

If the EP resolution (as it stands) is passed into law by the European Council it would result in the following:

•Large multinational corporations would have to pay taxes in the countries where most of their financial activities and profits are made

•Smaller EU economies that offer more competitive corporate tax rates with fewer regulations would stand to lose significant tax revenues as multinationals migrate out of their jurisdictions

•Jurisdictions outside of the EU would attract multinationals with more favorable tax and regulatory schemes

A Comparison of EU VAT Tax Rates as of 1 January 2015:

Sources: the Malta Independent and the European Parliamentary Research Service

Read Article Here.

Mossack Fonseca & Co. - Office Profile

CLIENT INFORMATION PORTAL

The Mossack Fonseca Client Information Portal is a secure online account that enables you to access your corporate information anywhere and everywhere, with real-time updates of your ongoing requests.

Our exclusive online portal offers clients these features:

• FIND updated information on your Company Formation requests through the Case Information Service panel, as well as digital copies of Corporate and legal paperwork.

• FOLLOW UP on your cases and receive notifications by email whenever one of your cases is updated.

• SEARCH and RESERVE Shelf Companies online.

• VIEW your price lists.

• PAY your outstanding invoices

• REQUEST for certificates, reactivations and order forms

You can access all of these features from any place in the world in a safe environment in real time! Ask for your log in at: portal@mossfon.com

Find the following applications:

1. CASE INFORMATION SERVICE (CIS)

The Case Information Service (CIS) is a tool which tracks the progress of client requests and ongoing cases.

• The CIS enables you to:

• Contact our staff around the world

• View digital copies of documents as soon as they are received in our office

• Receive automatic email notifications every time one of your cases is updated (optional)

2. ONLINE PAYMENT SYSTEM (OPS)

Mossack Fonseca Client Information Portal offers a complete account management system where you can keep track of all your outstanding or paid invoices.

• The OPS will allow you to:

• Generate account statements with real-time information

• Pay your outstanding invoices online or by credit card

• Take advantage of our debit account application

• Choose our Batch Payment option that facilitates bank transfers and cheques for settlement of invoices

3. ELECTRONIC DELIVERY SERVICE (EDS)

Mossack Fonseca guarantees the most rapid and secure delivery system for your Annual Invoices and Account Statements. This Electronic Delivery System (EDS) eliminates delays due to the air-mail service. We avoid the use of paper, and it allows you to have more time to collect bills from your clients and send payments before deadlines.

4. ONLINE WORK REQUEST (OWR)

Through this new application you can access these documents easily and quickly, and all in one place!

• Incumbency Certificates

• Good Standing Certificates

• Reactivation of one or more companies

• Order Form

Discover these and other website features NOW! Subscribe us here!

Mediante Decreto de Gabinete 221, de 18 de noviembre de 1971, con el propósito que todo el que trabaja merece por su contribución los beneficios recibidos por su empleador, se estableció el Décimo Tercer Mes, como retribución especial a los trabajadores.

La situación de discapacidad en el mundo sobrepasa el ámbito de la salud, constituyéndose en un reto evidentemente social, ya que de acuerdo con la Organización de Naciones Unidas (ONU), se estima que la décima parte de la humanidad presenta alguna discapacidad. Es por esto que la integración activa a la sociedad de las personas que sufren esta situación se ha constituido en un tema prioritario.

Las personas con discapacidad conforman un grupo vulnerable y numeroso, al que el modo en que se estructura y funciona la sociedad ha mantenido habitualmente en conocidas condiciones de exclusión.

El 3 de diciembre de cada año se conmemora el Día Internacional de las Personas con Discapacidad, con el objetivo de crear conciencia de que dentro de nuestra sociedad convive un grupo de personas que apela por una efectiva y plena inclusión en igualdad de condiciones con el resto de la humanidad.

Específicamente en Panamá -de acuerdo con la Primera Encuesta de Prevalencia de la Discapacidad, Pendis 2006- el 11,3% de la población presenta alguna discapacidad. Se han identificado en Panamá seis tipos de discapacidad principales: Ceguera, sordera, retraso mental, parálisis cerebral, deficiencia física y problemas mentales. De estos, prevalecieron la deficiencia física (30,1%) y la ceguera (22,0%).

Es por esta razón que el Estado ha implementado una serie de normas inclusivas a las personas con discapacidad, entre las que cabe mencionar: La Ley No. 42 de 27 de agosto de 1999, “Por la cual se establece la equiparación de oportunidades para las personas con discapacidad”, reglamentada por el Decreto Ejecutivo No. 88 de 12 de noviembre de 2002; la Ley No. 25 de 10 de julio de 2007, “Por la cual se aprueban la Convención sobre los Derechos de las Personas con Discapacidad y el Protocolo Facultativo de la Convención sobre los Derechos de las Personas con Discapacidad, adoptados en Nueva York por la Asamblea General de la ONU el 13 de diciembre de 2006”; y La Política de Discapacidad de la República de Panamá de 2009.

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Derecho al trabajo de las personas discapacitadas

Según la Ley No. 42 de 27 de agosto de 1999 las personas con discapacidad tienen derecho a optar por un empleo productivo y remunerado, en igualdad de condiciones. Las políticas y programas de contratación y ascenso, condiciones de empleo, tasas de remuneración, ambiente laboral y de reinserción de los trabajadores lesionados en accidentes laborales, deben ser equitativos. En los casos en que las personas con discapacidad apliquen para un puesto de trabajo en igualdad de calificaciones, estas deberán ser consideradas prioritariamente para ocupar la posición.

El trabajador cuya discapacidad haya sido diagnosticada por autoridades competentes, tendrá derecho a permanecer en su puesto de trabajo, y de no poder ejercerlo, a que se tomen las medidas para lograr su readaptación profesional u ocupacional. De igual forma, tendrá derecho a la adaptación del puesto de trabajo que ocupa dentro de la empresa o institución. Cuando el puesto de trabajo no pueda ser readaptado, el trabajador deberá ser reubicado de acuerdo con sus posibilidades y potencialidades, sin menoscabo de su salario.

Todo empleador que tenga cincuenta (50) trabajadores o más, contratará y/o mantendrá trabajadores con discapacidad, debidamente calificados, en una proporción no inferior al dos por ciento (2%) de su personal, los cuales deberán recibir un salario igual al de cualquier otro trabajador que desempeñe la misma tarea dentro de la institución o empresa.

Las instituciones o empresas que se nieguen a contratar y/o mantener el dos por ciento (2%) del personal con discapacidad, debidamente calificado para trabajar, estarán obligadas a aportar, al Ministerio de Trabajo y Desarrollo Laboral, una suma igual al salario mínimo por cada persona dejada de contratar, durante todo el tiempo que dure su renuencia.

Beneficios fiscales en la contratación de personas con discapacidad

El parágrafo segundo del Artículo 23 del Decreto Ejecutivo No. 170 de 27 de octubre de 1993 establece: El contribuyente podrá deducir el doble del salario devengado por los trabajadores discapacitados a su servicio, hasta un importe máximo de seis (6) meses de salario del discapacitado en cada año fiscal. Si el trabajador discapacitado presta servicios durante menos de seis (6) meses en un mismo año fiscal, el contribuyente podrá deducir como gasto el salario mensual efectivamente devengado por el trabajador y una suma adicional equivalente a dicho salario mensual. Para tener derecho a esta deducción adicional, el contribuyente deberá cumplir con los requisitos establecidos en el Decreto Ejecutivo No. 88 de 7 de junio de 1993.

El Decreto Ejecutivo No. 88 arriba citado establece que, a los efectos de aplicar el beneficio fiscal, el empleador deberá solicitar al trabajador o directamente al Ministerio de Trabajo y Desarrollo Laboral, una certificación que acredite que el trabajador contratado se encuentra inscrito en el Registro del Servicio de Colocación de Discapacitados, la cual deberá ser adjuntada a la Declaración de Rentas del contribuyente.

Las empresas que se acojan al beneficio fiscal arriba indicado podrán reducir su renta neta gravable al restar dichos beneficios o deducciones adicionales de sus ingresos gravables.

PANAMA CITY, Panama, Dec. 5, 2014 (GLOBE NEWSWIRE) -- Eduardito, the boy who is the symbol of the 20-30 Panama 2014 Telethon, recently toured Mossack Fonseca's main office in Panama. During his visit, all of the staff was impressed by Eduardito's cheerfulness and optimism.

A video accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=29490.

Eduardito goes to the Buen Pastor de Canaán School in San Miguelito, where he is an energetic kindergartner who loves his classes. When he was one month old, he was diagnosed with Type B Meningococcemia and, as a result, both of his hands and legs had to be amputated. Despite this tragedy, Eduardito is a happy and eager boy and his determination is an example for all of us.

This year, the 20-30 Telethon is raising funds in order to equip and create new departments at the National Physical Medicine and Rehabilitation Institute (PM&RI). There is limited room at the PM&RI, which makes it difficult to attend to the growing number of patients in the child and adult physiotherapy departments. This has limited the PM&RI's acquisition of modern equipment required for such rehabilitation.

The Mossack Fonseca Group (Panama) welcomed Eduardito affectionately and showered him with gifts. The staff also donated to the cause that he represents on behalf of thousands of children.

The Mossack Fonseca Group is proud to sponsor activities that contribute to the welfare of Panamanian children with special needs, as well as activities to support different organizations that share our vision of enhancing and developing our country.

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Lexa de Wittgreen

Marketing Communications Manager

54th E. Street, Panama

Tel. +507 205 5888 ext 377

Read this article here.

This article was originally distributed via SproutNews. SproutNews, WorldNow and this Site make no warranties or representations in connection therewith.

Mossack Fonseca’s consistent engagement in community service efforts continued throughout the holiday season in Llano Largo, Panama, where the company distributed holiday baskets outfitted with clothing, food and toys to residents of the community.

Panama, Republic of Panama – January 14, 2016 /PressCable/ — On Friday, December 12, 2015, Mossack Fonseca’s commitment to corporate social responsibility and community service was again on full display. In keeping with its longstanding tradition of supporting communities throughout Panama, company representatives from Mossack Fonseca distributed holiday baskets filled high with food, clothing, and toys to each family living in the rural community of Llano Largo, Panama. Throughout the holiday season, the company has sought to connect with community members and to demonstrate its commitment to service and goodwill to society as a whole.

It was a joyous occasion for all, but the representatives from the company made it quite clear that the opportunity to interact with community members and to give back in this way was a particularly gratifying experience. While several of the company’s representatives overheard residents as they exclaimed with awe, “Never have we seen baskets filled with so much — many thanks!” the representatives were quick to express their own gratitude for the support shown by the community throughout the time Mossack Fonseca has made Panama home to its main offices.

Mossack Fonseca’s community service efforts do not end at the close of the holiday season, as the company believes in the importance of offering its support to community members regardless of the time of year. Since its founding in 1977, Mossack Fonseca has always sought to provide its legal, accounting and trust services responsibly and in a manner in which everyone — clients, staff members, shareholders and society at large — is able to experience a highly beneficial outcome.

The Mossack Fonseca Group is dedicated to its multi-dimensional corporate social responsibility program, which has been partly inspired by the level of support the company continues to receive from local communities throughout Panama. Through volunteer work and donations, the company focuses on a wide range of concerns including health, education, culture, the environment, and especially children’s issues. The company’s continued efforts in this regard reflect the sincerity of Mossack Fonseca’s core values, which includes loyalty, commitment, and responsibility, among a number of other core principles.

For more information about us, please visit http://www.mossfon.com

Contact Info:

Name: Craig Edward

Organization: Mossack Fonseca

Address: 54th Street, Marbella, Panama, Republic of Panama

Phone: (507) 205.5888

El Grupo Mossack Fonseca, un negocio operado de forma exitosa y profesional desde hace más de 35 años, completó una transición interesante para convertirse en lo que es hoy, un gran Grupo de empresas de alcance global.

La implementación del gobierno corporativo en la organización responde al objetivo de ofrecer la confianza y seguridad a nuestros clientes de que sus activos estarán protegidos a lo largo del tiempo. La introducción de un Director General o CEO y la implementación de nuevas estructuras operativas facilitan la continuidad del negocio por las siguientes generaciones.

Utilizamos programas de mejoramiento continuo de los procesos y trabajamos con las mejores herramientas tecnológicas del mercado en el modelamiento y la automatización de los procesos. Hemos adoptado un Sistema de Gestión Empresarial que garantiza que el Grupo Mossack Fonseca continuará apegándose a las normas éticas y a las mejores prácticas legales, las cuales incluyen la rendición de cuentas, la transparencia y la equidad. Como empresa mundial con un Gobierno Corporativo bien organizado, Mossack Fonseca espera garantizar el éxito de sus clientes a largo plazo.

La estructura del gobierno corporativo nos ayuda a reducir costos, prevenir riesgos, permite identificar los problemas y las oportunidades estratégicas que tenemos para mejorar los procesos. Todo esto redunda en un mejor servicio para nuestros clientes.

Mossack Fonseca & Co. - Perfil de oficina

Alden McLaughlin, the premier of the Cayman Islands, has denied the UK’s request for direct access by its law enforcement agencies to beneficial ownership (BO) information in the Cayman Islands.

Premier McLaughlin indicated in his 26 November 2015 Premier's Statement on Beneficial Ownership: “The information concerned does not belong to the Cayman Islands Government. It is the property of the owners of the respective legal entities. Further, as far as we are aware, there is no country in the world that allows unrestricted access to beneficial ownership information by the law enforcement agencies of another country”.

The Premier made it clear that there is already an effective process that allows overseas law enforcement authorities to access beneficial ownership information. He stated that the process is carefully administered to ensure legality, accuracy, and compliance with existing global standards.

The Premier summarized his statement as follows:

1. We will not agree to a public register unless and until that becomes the global standard and all of our competitors also subscribe to that standard.

2. We will not agree to unfettered access to Cayman Islands beneficial ownership information by external law enforcement, tax or regulatory authorities. Requests for such information must continue to meet established criteria and be dealt with by the relevant Cayman Islands authorities established for that purpose and approved as being in accordance with global standards.

Source: Cayman Islands Government: Premier's Statement

Mossack Fonseca & Co. - Office Profile