Taxes & Policy - CryptoLearnPanama

What You Need to Know About Crypto Taxes in Panama

Panama has become a crypto-friendly jurisdiction that does not currently impose income taxes on personal cryptocurrency holdings or transactions.

💡 Important:

No capital gains tax on crypto-to-fiat conversions
No mandatory reporting for personal use
Businesses accepting crypto must report income
Tax-free status applies only to non-residents and personal use

🏛️ Legal Framework for Crypto Businesses

In 2021, Panama passed Law 154/2021 recognizing digital assets as legal property and enabling businesses to operate with blockchain-based financial tools.

✅ Key Requirements for Businesses:

Register with the National Securities Commission
Maintain transaction records for compliance
Follow AML/KYC guidelines
Report suspicious activity when required

💸 Reporting Requirements

While individual use is tax-exempt, certain activities require formal reporting:

Activity	Tax Status	Reporting Required
Personal Holding	No tax	No
Business Acceptance	Standard business tax	Yes
International Transfers	Subject to bank policies	Varies by institution

🌐 International Considerations

If you're using offshore services or reside outside Panama, always check your local regulations. While Panama allows free use, your home country may have different rules.

          ⚠️ Never assume cross-border exemptions apply
          Always consult a local tax professional if you're a resident of another country.
        

🧾 Record Keeping Best Practices

Even though there's no mandatory reporting for personal use, keep good records:

Wallet addresses and balances
Transaction history
Exchange statements
Seed phrase backup locations

📚 Final Thoughts: Staying Informed