04/10/19

PANAMA: New General Tax Amnesty.

As published on tax-news.com, Friday October 4, 2019.

Lawmakers in Panama have endorsed the launch of a new general tax amnesty, included in Bill 78.

The amnesty will enable qualifying taxpayers to regularize their tax affairs without being subject to interest, fines, or surcharges, providing payment is made by the end of November 2019.

A lesser reduction of 95 percent will apply to those making full payment by December 2019, 90 percent for full payment by January 2020, and 85 percent for those paying the full tax liability before February 29, 2020, when the amnesty will be withdrawn.