Panama tightens tax controls

Panama is tightening tax controls by means of a decree that creates five new forms to "prove the veracity of information supplied by taxpayers and third parties."

Thursday, May 22, 2008

The decree obliges banks and other financial institutions to present certificates of mortgage interest payments.

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Aceros de Guatemala Pays $103 million to Treasury

May 2016

The amount paid to the Tax Authority corresponds to unpaid taxes, plus penalties and interest.

An article on reports that the Superintendent of the SAT, Juan Francisco Solorzano, said that "... It is the largest payment made by any entity, in relation to adjustments that had been made or that had been ordered as a result of a judicial process from which it was ruled that there was tax fraud or tax evasion. "

Guatemala: Notional VAT Calculation Annulled

March 2014

Citing unconstitutionality power has been taken away from the tax authorities to determine the basis for calculating tax owed in respect of Value Added Tax.

A paragraph in Article 7 of the Law on Value Added Tax (VAT) which was declared unconstitutional provided: "In the case that a taxpayer, within three months, reports in their declaration of turnover sales rates that are lower than at cost or production of goods, the tax authorities may determine the basis for calculating the tax owed, taking into consideration the sale price of the same product in other transactions of the same taxpayer within the same time ... unless the taxpayer can justify and demonstrate the reasons why this situation occurred and present banking and financial information proving their real income. "

Guatemala: List of Tax Debtors

March 2015

The Tax Authority has published the names of contributors that have received court orders for breach of obligations to the treasury.  

From a statement issued by the Superintendency of Tax Administration (SAT):

The Superintendency of Tax Administration by the Administration of Legal Affairs, is sued, using the coercive economic route, taxpayers who have not paid their tax debts.

Comparative Ibero-American Tax Guide

May 2010

Deloitte Panama published a complete tax guide comparing the most relevant fiscal matters between Ibero-American nations.

The document includes the following topics:

0. Comparative Summary
1. Tax on company profits
2. Tax on income from employment, economic activities, capital assets, real estate, and capital gains of individuals.

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