PANAMA

On August 10, the Labour and Health Committee of the National Assembly created a subcommittee to study the bill that promotes the commercialisation of food products through digital platforms. Meanwhile, the Economy and Finance Committee created a subcommittee to strengthen and expand the bill, which introduces amendments to the legislation on fiscal transparency and money laundering. These texts could move forward in these subcommittees in the coming weeks.

Subcommittee to consider bill on digital marketing of small entrepreneurs’ products

The text, presented by substitute deputy Aydee Watson (PRD – ruling party), was sent to a subcommittee to begin its analysis. The body will be constituted by Víctor Castillo (PRD – ruling party), Arnulfo Díaz de León (PCD – opposition) and Everardo Concepción (Partido Panameñista – opposition). The president of the Committee, Daniel Ramos Tuñon (PRD – opposition), asked the subcommittee to present its report on the text within a maximum period of 20 days, as he assured that this is a priority health issue.

The bill seeks to regulate and control the production and marketing of food products by micro, small and medium-sized enterprises through the creation of a Special Health Register (RES in Spanish). The regulation emphasises the commercialisation of these products through platforms and e-commerce. In this sense, it indicates that any person who commercialises their product through digital platforms must do so under the principle of good faith and including the possibility of refunding the money, the adhesion contract, among other requirements.

Economy and Finance Committee creates subcommittee to discuss money laundering bill

The text was presented by the Minister of Economy and Finance (MEF in Spanish), Héctor Alexander, on April 29 and aims to prevent money laundering. A subcommittee has been created to analyse the bill, which will be constituted by Melchor Herrera (PRD – ruling party), Dalia Bernal (PCD – opposition) and Pedro Torres (Panameñista Party – opposition). According to the legislative body, the subcommittee would have 10 working days from the date of its meeting to present a preliminary report to the rest of the legislators.

The bill amends several existing regulations, including Law 52 of 2016, Law 23 of 2015 and the Fiscal Code. It includes more information requirements and obligations regarding the accounting records of legal persons. It also increases fines for those who do not comply with the law, modifies the definition of “beneficial owners” and adds an article for financial and non-financial obliged parties related to the due diligence that must be conducted in their operations, among other points.