Department of Economy and Finance’s General Tax Directorate (Dirección General de Ingresos , DGI), is reporting $95 million dollars collected to date since the new tax moratorium was implemented back in August.
$88 million have been paid directly, $6 million were captured in payment agreements between tax payers and DGI, and some $56 million will have to be canceled within six months.
The most prominent contributors in this tax collection were:
- $40.5 million from juridical revenue (judgments and legal issues)
- $16.4 million from property tax
- $10.3 million ITBMS-Sales (Sales Tax)
- $5.8 million income tax revenue
- $ 5.5 corporate registration taxes (Tasa Unica)
November 30 the last day that taxpayers, seeking refuge from the tax moratorium, can pay 25 % of the taxes due and get a 100% exemption from on incurred interests and fines.
Further more any tax payments (or arrangements for tax payment) done between December 1 and December 31, 2009 won’t have to be paid until June 30, 2009 with a 25 % discount on interests and 100 % exemption from all incurred fines.
Law45 of August 5, 2009 that grants moratorium for the payment of taxes administered by the DGI, is in effect until December 31 of this year.
It seems that President Martinelli’s Coffers are now starting to see some money poring in. Ideally, this tax collection will facilitate budget boosts for social programs so promptly needed.
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