On December 9, the Comptroller General’s Office issued Resolution 953-2021 containing the “Procedure Manual for the Economic Return to Companies that produce cinematographic or audiovisual works in the Republic of Panama“. The norm establishes controls, regulations and procedures with the purpose of guaranteeing the reimbursement to companies that make such productions in the country. The resolution is already in force.
The regulation indicates that those foreign productions applying for the reimbursement must comply with 2 requirements: submit the request to the Film Commission of the Ministry of Commerce and Industries by means of a simple memorial and fill the Supplier Registration Form. Thus, in order to receive the economic incentive, foreign productions, whether commercial or artistic, must comply with the fees for incentive registration services and, in turn, be registered exclusively by a national production company licensed by the audiovisual industry.
In this way, the companies will be able to receive reimbursement of the expenses incurred once the film project is completed. To this end, the Film Commission stipulates that, among other requirements, they must verify the inscription in the Incentives Registry, submit the Purchase Report to the Ministry of Economy and Finance and the proof of origin of the economic source used for the production.