Panama: More Sectors Exempt From Use of Fiscal Printers

Companies whose distribution operations or sales are made through sales agents with assigned routes are excluded.

Friday, August 12, 2011

This exemption is valid until portable printers become available. The Internal Revenue Service will set the timeframe for their implementation. "However, the proviso is that the use of such equipment will not be required if the total daily turnover of each merchant is less than $300.

Also exempt from the use of tax machinery are those who perform property leasing activities under contracts made by people who manage their assets without the intervention of third parties, and co-owners' associations for the collection of maintenance fees in horizontal property regimes ", reported

More on this topic

Panama: List of Those Exempt From Using Tax Printing Machines

October 2011

Following the approval of Law 72 of September 27, it is important to verify which are the activities which are exempted from the obligation to use the fiscal printing equipment.

An opinion piece in, notes and comments on companies that, in principle, are not required to use computers for billing tax.

Credit of up to 100% for Tax Equipment

September 2011

Panamanian businesses with turnover of less than $36 thousand a year will have access to a tax credit for up to 100% of the value of the equipment.

The credit is for the purchase of a single piece of equipment whose price can not exceed $850.

With the new regulations to be included in the amendments to Bill 375, the General Directorate of Income is trying to alleviate the economic impact for micro businesses.

Tax Equipment to be Deployed Progressively

August 2011

Panamanian authorities have announced that the implementation of tax equipment in the province of Panama will be made gradually being completed by December 1.

A press release from the Ministry of Economy and Finance of Panama reads:

The implementation of fiscal equipment in the province of Panama will be made gradually, being completed by December 1, said Luis Cucalón, Director General of Revenue at the MEF, following the adoption in first debate on the draft law which amends some related tax measures in Law 76 of December 22, 1976 and Law 62 of October 15, 2010 by the Legislative Commission of Economy and Finance.

Call for Gradual Implementation of Tax Equipment

August 2011

Numerous outstanding issues remain regarding standards, short supply of some equipment, anticipated delays in software development and interconnection problems in B2B transactions.

A statement by the Panamanian Chamber of Commerce, Industries and Agriculture (CCIAP) announced it has requested “a phased implementation of the equipment, due to the complexity of its implementation.”

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