Payment Suspension: Controversy in PanamaAs a result of the economic effects that the outbreak of covid-19 will cause in the National Assembly, a general suspension of the payment of taxes, basic services and bank credits for three months is proposed, but the businessmen think that it is not suitable to generalize the measures.Thursday, March 19, 2020
Bill No. 390, which proposes the suspension of payments and collections of taxes, social security contributions, mortgage loans, commercial and agricultural loans, is advancing in the National Assembly. Source: Prensa.com ¿Busca soluciones de inteligencia comercial para su empresa?Request the report nowNeed assistance? Contact us
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Moratorium on Loans: Opposite Criteria in PanamaJune 2020 After President Cortizo partially banned the moratorium bill, the National Assembly discussed the initiative in a second debate, which was unnecessary for the Superintendent of Banks, who said that the banks had already implemented the necessary measures. Credits: Requirements for Moratorium RequestMay 2020 Legal or natural persons who apply for the moratorium on loan payments in Panama must prove to the banking institutions that they have been economically affected by the outbreak of covid-19 and that they cannot cancel their quotas. Credits in Panama: Moratorium Until the End of 2020May 2020 The Executive and the banking sector agreed to extend until December 31st of this year the moratorium on credit payments, a measure that applies to mortgages, personal loans, the agricultural sector, commercial, transportation, auto and credit cards. Panama: Proposal to Suspend Tax PaymentsMarch 2020 In view of the emergency arising from the spread of covid-19, a bill was submitted to the Assembly proposing a 90-calendar-day suspension of the payment of municipal and national taxes.
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