In Panama, the General Revenue Directorate (DGI) announced that it will suspend corporations that for the term of three consecutive years or more, have not made the payment of the single tax.
According to the General Revenue Directorate (DGI) of the Ministry of Economy and Finance (MEF), the authorities are currently updating the list of legal entities in arrears for three consecutive years or more in the non-payment of the single tax, pursuant to the provisions of Article 318-A of the Tax Code.
The Legislative Assembly is preparing to consider, in the first debate, a bill aimed at exempting inactive companies from the obligation to file an income tax return.
The file of this legislative proposal is number 22,307 and was presented by Deputy Pablo Heriberto Abarca. The initiative will be discussed in the Assembly, despite the opposition of the Ministry of Finance.
The annual amount of the tax to be paid by legal entities starting from September 1 varies between 15% and 50% of the base salary, depending on the type of company.
From a statement issued by the Ministry of Finance:
On Friday, September 1, the collection of the new Tax on Legal Entities begins, and the collection, administration, control and collection will be from the Ministry of Finance, as of this year, according to Law 9428 that creates this Tax.