NewsLady Posted November 20, 2019 Share Posted November 20, 2019 Hi everyone, The Panamanian government has issued a tax amnesty law, effective until February 2020. Below you will find information about this law, do not hesitate to contact us if you need assistance. (El gobierno panameño ha emitido una ley de amnistía fiscal, vigente hasta febrero de 2020. A continuación encontrará información sobre esta ley, no dude en contactarnos si necesita asistencia). What is the Amnesty for taxes? A law established by the new government that grants a period for payment and fullfillment of obligations with the Tax Office of Panama, without interest surcharges fines, that includes corporation, foundation, property and any kind of debth with the tax office. Period of Amnesty for debt on taxes It is valid up to February 29, 2020, however, benefits change depending on the month of application, as follow: 100% Forgiveness or elimination of the interest, fines and surcharges if payment of the debt is done within November 2019. 95% Forgiveness or elimination of the interest, fines and surcharges if payment of the debt is done within December 2019. 90% Forgiveness or elimination of the interest, fines and surcharges if payment of the debt is done within January 2020. 85% Forgiveness or elimination of the interest, fines and surcharges if payment of the debt is done within February 2020. REQUIREMENTS To have a NIT Number (Password to apply for the benefit on the Tax office platform). Note: If you do not have one yet we offer assistance to obtain it. THE PROCESS AND OUR SERVICE: Verification of tax statement Request of amnesty benefit Payment of taxes with the benefit. Verification of application in the system Printing good standing and new statement of account. **************************************************************************************************************************************** ¿Qué es la amnistía? Una ley que otorga un período de gracia para el pago y el cumplimiento de las obligaciones con la Dirección de Ingresos, sin multas, recargos o intereses, que incluye todo tipo de obligaciones y deudas con dicha entidad. Período de amnistía para la deuda de impuestos Es válido hasta el 29 de febrero de 2020, pero los beneficios varían según el mes de solicitud, de la siguiente manera: 100% de condonación (eliminación) de intereses, multas y recargos si el pago de la deuda se realiza en noviembre de 2019. 95% de condonación (eliminación) de los intereses, multas y recargos si el pago de la deuda se realiza en diciembre de 2019. 90% de condonación (eliminación) de los intereses, multas y recargos si el pago de la deuda se realiza en enero de 2020. 85% de condonación (eliminación) de los intereses, multas y recargos si el pago de la deuda se realiza en febrero de 2020. REQUISITOS Tener número NIT (es una contraseña para aplicar por el beneficio en el sistema). Nota: Si no tiene uno ofrecemos asistencia para su obtención. ACERCA DEL PROCESO Y DE NUESTRO SERVICIO Verificación de los estados de cuenta Solicitud de beneficio de amnistía Pago de impuestos con el beneficio. Verificación de su aplicación en el sistema. Impresión paz y salvo y nuevo estado de cuenta. Attorney Lourdes Miranda: miranda@lawandrealty.net Attorney Juan Contreras: contreras@lawandrealty.net Un cordial saludo, / Best regards, Juan Gabriel Contreras Sánchez Attorney at Law and Licenced Realtor / Abogado y Corredor de Bienes Raíces.Boquete: Don Vidal Building, second floor, Office #1, Boquete, Chiriquí, Panamá. Panama: JW Marriott, office tower, floor 2, Office 211, Punta Pacifica. Tel: (507) 730-9113; Cel: (507) 6611-9678 Skype: contreraslawyer; Whatsapp direct link: https://wa.me/50766119678 www.lawandrealty.net Dear client if in 24 hours you have not received an answer, we kindly request you to please forward your email, it is our goal to assist you promptly. Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted March 19, 2020 Moderators Share Posted March 19, 2020 Quote Tax Amnesty in Panama The National Assembly of Panama approved in second debate the draft law that extends the period of tax amnesty until June 30, 2020. Wednesday, March 18, 2020 The initiative proposes that up to 85% of the total interest, surcharges and fines be recognized if payment is made after February 29, 2020 until June 30 of the same year, so that taxpayers may proceed to make their corresponding payments or credits. The Assembly's statement says that "... This is due to the fact that there were technical reasons at the General Revenue Directorate that prevented many taxpayers from taking advantage of the tax amnesty granted by Law 99 of 2019. It should be noted that the document states that this Act is of public order and social interest and therefore has retroactive effect." https://www.centralamericadata.com/en/article/main/Tax_Amnesty_in_Panama Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted April 10, 2021 Moderators Share Posted April 10, 2021 Quote Tax Amnesty: Law Sanctioned in Panama President Laurentino Cortizo sanctioned Law 208 of April 6, 2021, which extends until December 31 of this year the validity of the tax amnesty, which initially arose in 2019. Thursday, April 8, 2021 With this initiative of the Executive, enacted in Official Gazette and which is part of the Economic Recovery Plan (phase 1), taxpayers will have until August 31, 2021 to make payments or enter into payment arrangements with respect to tax obligations not fulfilled until January 31 of this year, official sources informed.Check out the "System for monitoring markets and economic situation in Central American countries", prepared by CentralAmericaData.According to a press release from the Presidency, the legislation establishes that all those tax obligations not fulfilled since January 31, 2021 and prior dates may be settled and take advantage of the extension of the tax amnesty, saving 85% in interest, surcharges and fines.The law grants individuals and legal entities the opportunity to resubmit documents that should have been endorsed until January 31, 2021 and grants them the remission of 75% of the corresponding fine, provided that they pay the remaining 25% before December 31, 2021, the document states.According to the authorities, "... the regulation dictates new tax relief measures, mainly in the area of real estate, extending the 10% discount on real estate tax until the end of April, plus an additional benefit of 5% discount for individuals and legal entities that have income lower than B/.2.5 million and that pay income tax and estimated tax with respect to the fiscal period 2020 and 2021, correspondingly, within the four months following the entry into force of this proposed law." The extension of the tax amnesty has a social ingredient, in addition to the economic one, since, as a result of the Covid-19 pandemic, thousands of Panamanians have been affected not only in their health, but also in the economy of their homes as a result of the closing of companies and suspended contracts, as well as the definitive separation from their jobs, concludes the information released. https://www.centralamericadata.com/en/article/main/Tax_Amnesty_Law_Sanctioned_in_Panama Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted April 12, 2021 Moderators Share Posted April 12, 2021 Quote Tax Amnesty: Law Sanctioned in Panama President Laurentino Cortizo sanctioned Law 208 of April 6, 2021, which extends until December 31 of this year the validity of the tax amnesty, which initially arose in 2019. Thursday, April 8, 2021 With this initiative of the Executive, enacted in Official Gazette and which is part of the Economic Recovery Plan (phase 1), taxpayers will have until August 31, 2021 to make payments or enter into payment arrangements with respect to tax obligations not fulfilled until January 31 of this year, official sources informed.Check out the "System for monitoring markets and economic situation in Central American countries", prepared by CentralAmericaData.According to a press release from the Presidency, the legislation establishes that all those tax obligations not fulfilled since January 31, 2021 and prior dates may be settled and take advantage of the extension of the tax amnesty, saving 85% in interest, surcharges and fines.The law grants individuals and legal entities the opportunity to resubmit documents that should have been endorsed until January 31, 2021 and grants them the remission of 75% of the corresponding fine, provided that they pay the remaining 25% before December 31, 2021, the document states.According to the authorities, "... the regulation dictates new tax relief measures, mainly in the area of real estate, extending the 10% discount on real estate tax until the end of April, plus an additional benefit of 5% discount for individuals and legal entities that have income lower than B/.2.5 million and that pay income tax and estimated tax with respect to the fiscal period 2020 and 2021, correspondingly, within the four months following the entry into force of this proposed law." The extension of the tax amnesty has a social ingredient, in addition to the economic one, since, as a result of the Covid-19 pandemic, thousands of Panamanians have been affected not only in their health, but also in the economy of their homes as a result of the closing of companies and suspended contracts, as well as the definitive separation from their jobs, concludes the information released. https://www.centralamericadata.com/en/article/main/Tax_Amnesty_Law_Sanctioned_in_Panama Quote Link to comment Share on other sites More sharing options...
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