Property Tax: Moratorium Extended

In Panama, the National Assembly approved extending until June 30, 2019, the deadline for taxpayers to pay the real estate tax, free of interest and surcharges.

Friday, March 1, 2019

The meeting provided a two-way tool by allowing taxpayers a more convenient period to catch up with their debts and the General Revenue Directorate to make the relevant collections that today are uncollectable by lack of knowledge of people, explains a statement from the National Assembly.

Congressman José Antonio Domínguez told Prensa.com that "... the extension of the moratorium until June arises because of the delay at the National Land Administration Authority (Anati). Taxpayers who take advantage of the moratorium must update the cadastral value of the property, while those who are constituting their property as tributary family patrimony to have the first $120,000 of the value of the property exonerated must update the generals of the property, but not the cadastral value."

Dominguez added that "... There have been problems with Anati. They have not complied with the times for Panamanians to pay taxes,' if they do not speed up the proceedings in the entity, the deputies could request new extensions of the moratorium."

If the president of the country approves the bill approved by the Assembly, it would be the third moratorium, since in 2017 and 2018 others had already been authorized.

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More on this topic

Moratorium on Payment of Property Tax Extended

August 2018

In Panama, the National Assembly has approved extending until December 2017 the moratorium on the payment of real estate taxes, which also extends to interest, fines and surcharges generated by the non-payment of the single rates for private interest companies and foundations.

From a statement issued by the National Assembly:

Property Tax Law Approved

September 2017

The law on property tax finally approved by the Assembly of Panama exempts from payment housing whose value is less than $120 thousand.

From a press release by the Assembly:

The regulations mainly extend the coverage of tax exemptions to residences that do not exceed 120 thousand balboas and those that exceed this price will pay less taxes. Money collected from this tax will be given to municipalities to secure resources for decentralization.

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 Prensa.com 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.

Costa Rica: Luxury Residences Tax Comes Into Effect

October 2009

Today, a new tax for residences worth more than $170.000 (¢100 million) comes into effect in Costa Rica.

The law, dubbed 'Solidary Tax' ('Impuesto Solidario'), will tax luxury houses for ten years.

"Every three years, on the first 15 days of January, homeowners will have to update the fiscal value of their property by means of an electronic statement. It won't be deductible from income taxes", reports Nacion.com.

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