Panama: More Tax Collection Companies

A bill proposed to the National Assembly aims to hire more companies to manage cases of tax arrears.

Monday, August 11, 2014

So far only one company is responsible for this service, engaged directly and exclusively to manage collections from legal and natural persons who are behind with tax payments. If the bill presented by the Ministry of Economy and Finance is successful, the government will open up the process for hiring companies.

Prensa.com reports that "...The company (Cobranzas del Istmo) was hired in 2010, directly, for a period of six years. The bill that the minister Dulcidio de la Guardia brought to the Assembly includes hiring 'of collection managers with extensive and proven experience in cases of arrears in excess of 18 months.'"

"...In the case that a collection manager is a 'legal person' they must declare under oath who their shareholders or members are, and in no case can be people have been linked to public services in the last two years. "



More on this topic

Fiscal Amnesty in Costa Rica: How will it be?

November 2018

The tax reform law that would be approved in second debate in the coming weeks, involves the exoneration of arrears and penalties for taxpayers who pay their debts in the first three months after the publication of the law.

The proposed measure consists of exonerating 100% of the interest on arrears and up to 80% of the penalty to taxpayers who pay in the first month after the Law is published in the official newspaper La Gaceta.

Tax Moratorium in Panama

October 2014

A bill submitted by the Executive would allow debtors to pay outstanding balances on any tax owed without interest or penalties from the day following the enactment of the law until December 31st.

The government has introduced a bill that aims to recover about $1.2 billion in unpaid taxes.

Panama: No to Outsourcing of Taxation

September 2014

The government has announced that it will stop the outsourcing of tax collections and reestablish it as a function of the Directorate General of Revenue.

The Minister of Economy and Finance, Dulcidio De La Guardia, also announced the elimination of the National Tax Authority, created in the previous administration, and the management and collection of taxes will go back into the hands of the General Revenue Department.

The Private Enterprise Does It Better

May 2013

Outsourcing the collection of unpaid taxes in Panama has generated comments that merit an analysis of the differences in efficiency between the public and the private sector.

Editorial

In Panama the Tax Revenue Authority has hired a private company to recover its arrears portfolio, gaining efficiency and reducing costs.

 close (x)

Receive more news about Local Law

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Tailor made software for construction companies

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 22)
Brent Crude Oil
55.050
Coffee "C"
125.35
Gold
1,856
Silver
25.490