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. 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. "

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