Galindo, Arias & López wins praise from clients thanks to its ‘inter-departmental collaboration and expertise‘, fielding a diverse tax practice which spans consultancy, litigation and compliance matters. The firm enjoys a strong profile in international taxation, advising multinational clients on the structuring of cross-border transactions, the interpretation of Panama’s tax treaties and the application of its special tax regimes. On the contentious front, the team’s recent caseload spans disputes relating to transfer pricing, tax assessments and VAT. Ramón Ricardo Arias leads the practice with Edgar Herrera, who ‘stands out for the level of detail and depth in his advice‘ and is particularly sought after for his expertise in international taxation. Associate Anna Cristina Valdés is also singled out as ‘among the best‘.

Morgan & Morgan‘s tax practice is particularly skilled in assisting multinational companies with the special tax regimes available in Panama, in addition to domestic and international tax planning, transfer pricing and compliance matters. Another notable area of strength lies in advising clients in the real estate sector on the tax aspects of establishing real estate investment trusts (SIIs), benefitting from the wider firm’s expertise in this space. Practice head José Rafael Reyes handles the full spectrum of tax matters; both Reyes and senior associate Amanda Barraza can draw upon significant past experience with international accounting firms. Associate Angelica Ortiz provides capable support, particularly in matters relating to special tax regimes and Panamanian tax residency. Since publication, Barraza has left the firm to act as a sole practitioner.

Singled out for ‘its efficient way of solving problems‘, the tax team at LOVILL advises an array of international clients on the structuring of cross-border transactions, regulatory compliance, the benefits available under Panama’s special tax regimes and the effects of tax treaties. The team also supports the firm’s active real estate department in advising on tax issues relating to real estate transactions and projects, and is equally adept at representing clients in tax disputes before the Panamanian courts. Dividing her time between Panama City and Tokyo, Elizabeth Heurtematte leads the practice and is noted for her experience in corporate tax structuring and estate planning. Isabel Cristina López is also a key contact, alongside newly promoted partners Alejandro Fung and Jeannette Bravo.