Panama Provides Income Tax Return Deadline Extension for 2020; New Deadline May 3rd, 2021

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Moderator comment: The bolding in the below news article was added by the moderator.

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Panama Provides Income Tax Return Deadline Extension for 2020

Panama's Ministry of Economy and Finance has announced that the deadline for the submission of income tax returns for the 2020 tax year has been extended to 3 May 2021. The deadline has been extended in light of continued issues with COVID-19 and automatically applies for all taxpayers, including both natural and legal persons.

 

https://www.orbitax.com/news/archive.php/Panama-Provides-Income-Tax-Ret-45808

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Moderator comment: See also the below extract from an email from a local attorney.

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DGI extiende el plazo para la declaración jurada de rentas 2020

7 Marzo 2021

 

La Dirección General de Ingresos (DGI) del Ministerio de Economía y Finanzas (MEF), comunica a los contribuyentes que, mediante resuelto, decidió extender hasta el próximo 3 de mayo de 2021 y como plazo definitivo, la presentación de la declaración jurada de rentas, tanto para personas naturales, jurídicas y para la micro y pequeñas empresas.

La DGI aclara que el Decreto de Gabinete No.109 de 7 de mayo de 1970 establece en su artículo 5 y 6, que el Director General de Ingresos es responsable por la permanente adecuación y perfeccionamiento de los procedimientos administrativos, y lo facultan para regular las relaciones formales de los contribuyentes con el Fisco, en aras de mejorar el servicio, las facilidades y el cumplimiento de las obligaciones tributarias.

Teniendo en consideración que recientemente se realizó la apertura de diversos bloques económicos que se mantenían cerrados producto de la cuarentena decretada por el COVID-19, la Administración Tributaria destaca que se hace necesario extender el plazo para la presentación de la declaración jurada de rentas correspondientes al período fiscal 2020 de estos contribuyentes.

En virtud de ello, se les comunica a las personas naturales o jurídicas que tengan períodos fiscales regulares, que tendrán hasta el 3 de mayo del presente año, como plazo definitivo para presentar su declaración jurada de rentas correspondiente al año 2020.

Los contribuyentes que tengan ingresos inferiores a 500 mil balboas y estén debidamente inscritos en el Registro Empresarial de AMPYME, de conformidad con lo dispuesto en los artículos 699-A y 700-A del Código Fiscal, tendrán también hasta el 3 de mayo de 2021 como plazo definitivo para presentar su declaración jurada de rentas correspondiente al período fiscal 2020.

Es importante resaltar que, esta prórroga se otorga de manera automática a todos los contribuyentes, a personas naturales como jurídicas, por lo que no es necesario realizar ninguna solicitud a través de nuestro sistema informático.

 

Moderator comment: Below is an unedited automated translation of the above notice.

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DGI extends the term for the 2020 income tax return
March 7, 2021

The General Directorate of Revenue (DGI) of the Ministry of Economy and Finance (MEF), informs taxpayers that, by means of resolution, it decided to extend until next May 3, 2021 and as the final term, the presentation of the income tax return , both for natural persons, legal entities and for micro and small companies.

The DGI clarifies that Cabinet Decree No. 109 of May 7, 1970 establishes in its articles 5 and 6, that the Director General of Revenues is responsible for the permanent adaptation and improvement of administrative procedures, and empowers him to regulate the Formal relationships of taxpayers with the Treasury, in order to improve service, facilities and compliance with tax obligations.

Taking into consideration that recently the opening of various economic blocks that were closed due to the quarantine decreed by COVID-19 was carried out, the Tax Administration emphasizes that it is necessary to extend the deadline for the presentation of the affidavit of income corresponding to the 2020 fiscal period for these taxpayers.

By virtue of this, it is communicated to natural or legal persons that have regular fiscal periods, which will have until May 3 of this year, as the definitive term to present their affidavit of income for the year 2020.

Taxpayers who have incomes less than 500 thousand balboas and are duly registered in the Business Registry of AMPYME, in accordance with the provisions of articles 699-A and 700-A of the Tax Code, will also have until May 3, 2021 as Definitive deadline to present your tax return of income corresponding to the fiscal period 2020.

It is important to note that this extension is automatically granted to all taxpayers, natural and legal persons, so it is not necessary to make any request through our computer system.

 

 

https://www.mef.gob.pa/2021/03/dgi-extiende-el-plazo-para-la-declaracion-jurada-de-rentas-2020/