Property Taxes Modifications in Panama

The tax reform being discussed includes important modifications to property taxes.

Thursday, September 10, 2009

Currently, this tax can be paid in three payments, but with the new regulation, it must be done in one lump sum.

"The alternative fee would be 1% over the taxable base (the value of the land plus built improvements)", reports "With these modifications, the owner of a $55.000 house paying a preferential fee of $185 a year would have to disburse $250".

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New Laws for Housing Market

April 2012

The recent package of tax regulations passed in Guatemala includes modifications in determining the taxable value for the sale of a property.

In an article in the consultant Manuel Salguero states that "The consequence of these new laws and reforms will be having to pay more money in taxes for the purchase of housing solutions.

Adjustments Prior to Tax Reform in Panama

August 2009

The economy and finance ministry will present some tax adjustments, prior to the fiscal reform announced for years-end.

These adjustments include a modification in real estate taxes and tax increases for casinos and gambling houses.

"...this adjustment 'package' includes the withdrawal of the ITBMS exoneration for banking services commissions, a tax hike for tobacco companies...", reported an official government source to newspaper La Prensa.

Panamanian Businessmen Demand Changes to Tax Reform

March 2010

Business unions disagree with the Government’s proposal and propose various changes.

They proposed modifications in how taxes are calculated and in the various tax rates.

“Some argue that the bill discriminates some sectors. For some companies, income tax would drop to 25% from 27%, while others would pay 27%, down from 30%. For a number of industries, income tax would remain at 30%, the maximum”, reported

Salvadoran Businessmen Oppose Higher Taxes

February 2011

Private business leaders spoke out against the creation of new taxes and increasing income tax.

"The private sector struggles between uncertainty and anger, after a study by Eurasia ensures that the Salvadoran Government is expected to approve an increase to the ceiling of income tax, a new estate tribute and a security levy," reports.

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