Moderators Moderator_02 Posted September 22, 2017 Moderators Share Posted September 22, 2017 Quote Tax on Remittances in Panama A bill that will be discussed in the Assembly proposes that a 5% tax be imposed on remittances sent from Panama to other countries. Thursday, September 14, 2017 The initiative presented by Deputy Ruben De Leon also includes an article that regulates operations of money remittance houses.The tax would be 5% on the total amount to be sent. Laestrella.com.pa reports that "...The legislative proposal establishes that for the retention of the special tax on remittances sent abroad, the brokers that are dedicated to this activity will apply the same methodology and regulatory framework used for the Tax on the Transfer of Property and Services (ITBMS)." "... Exemptions from this tax would be given to post offices, telegraphs and banks, which will be governed by the legal provisions in force in this area; as well as the free zones established in Panama." Source: laestrella.com.pa http://www.centralamericadata.com/en/article/main/Tax_Remittances_in_Panama Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 22, 2017 Share Posted September 22, 2017 9 hours ago, Moderator_02 said: "... Exemptions from this tax would be given to post offices, telegraphs and banks, which will be governed by the legal provisions in force in this area; as well as the free zones established in Panama." So who does that leave? Western Union and Moneygram? Quote Link to comment Share on other sites More sharing options...
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