By means of Resolution No. 201-2722 of May 20, 2020, (the "Resolution"), some articles of Resolution No. 201-2401 of March 30, 2020, were modified, through which the General Revenue Directorate (DGI by its acronym in Spanish) extended the term for the presentation of certain reports before said entity, due to the State of National Emergency decreed in Panama due to COVID-19.

The Resolution establishes that taxpayers will have until July 31, 2020, to submit those forms whose reporting period corresponds to February, March, April and May 2020 in relation to:

• Report of non-reporting taxpayers
• Debit card sales report
• Report on purchases and imports of goods and services

Besides, taxpayers will have until July 17, 2020, to submit the Report on Payments Made to Third Parties and the Report on Donations Received that correspond to the fiscal year 2019.