Panama MOF Proposes Amnesty for Taxpayers

The Panamanian Ministry of Economy and Finance Oct. 9 presented a bill to the Cabinet Council to grant an amnesty period for taxpayers. The bill includes measures to: 1) allow taxpayers acting as withholding agents, to pay any arrears directly to the General Directorate of Revenue (DGI) from Nov. 1 to Dec. 31, on withheld income and education insurance contributions for periods up to June 2024; 2) apply the amnesty to interest and surcharges on taxes like income tax, real estate tax, operation notice tax, the tax on the transfer of personal property and provision of services (ITBMS), selective consumption ...