President Laurentino Cortizo sanctioned Law 208 of April 6, 2021, which extends until December 31 of this year the validity of the tax amnesty, which initially arose in 2019.
With this initiative of the Executive, enacted in Official Gazette and which is part of the Economic Recovery Plan (phase 1), taxpayers will have until August 31, 2021 to make payments or enter into payment arrangements with respect to tax obligations not fulfilled until January 31 of this year, official sources informed.
As part of the process of digitalization of tax procedures, as of July 1, 2021, taxpayers who register with the Superintendence of Tax Administration will be added to the Online Electronic Invoice regime.
Data from the Superintendence of Tax Administration (SAT) show that as of March 2021, 265,620 taxpayers had already registered in the Online Electronic Invoice (FEL) regime.
Chang y Compania and Mag Alcoholes, are two companies that during March were audited by local authorities, after the detection of the possible crime of tax and customs fraud.
Representatives of the Superintendencia de Administración Tributaria (SAT) informed that on March 10, the Juzgado Pluripersonal de Primera Instancia Penal en Materia Tributaria y Aduanera ("Pluripersonal Court of First Criminal Instance in Tax and Customs Matters") ordered the intervention of the company Mag Alcoholes, and on March 22, the Juzgado Quinto de Primera Instancia Penal ("Fifth Court of First Criminal Instance") ordered the intervention of the warehouse Chang y Compania.
In order to reactivate the Panamanian economy that has been damaged by the outbreak of covid-19, the Ministry of Economy and Finance will present to the National Assembly a bill to extend the tax amnesty and approve new tax relief measures.
The Cabinet Council, led by President Laurentino Cortizo Cohen, authorized, today, the Minister of Economy and Finance, Hector Alexander to present to the National Assembly, the bill extending the tax amnesty, as well as new tax relief measures with a view to reactivate the national economy, explains an official document.
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.
Guatemala's private sector filed a legal action against the Superintendence of Tax Administration, arguing that the entity had indicated that it would defer tax collection if the restrictions remained in place, but did not do so.
A three-month moratorium on the payment of value added taxes, business income and customs duties is the proposal of the Executive in view of the emergency caused by the spread of covid-19 in the country.
The initiative "COVID-19 Tax Relief Project", which was presented to the Legislative Assembly on March 16, proposes that taxpayers can postpone the payment of taxes for at least three months.
Until January 13, 2020, the Sworn Declaration of Liquidation of the Selective Consumption Tax on Soft Drinks may be presented in Panama, corresponding to November 2019.
Law 114 dated November 18, 2019, which entered into force on November 19, 2019, establishes a new rate for the Selective Excise Tax on Soft Drinks, which is why the e-Tax 2.0 system was modified.
The changes that had been made to the Regulation of the Value Added Tax Law in Guatemala came into effect.
This is Governmental Agreement 222-2019 modifying the Regulation of the Value Added Tax Law, which contains provisions regarding the mechanisms for the recovery of the tax credit to exporters created by Decree 4-2019, informed the exporters' union.
In Costa Rica, taxpayers interested in benefiting from exemptions or reduced rates of payment of Value Added Tax must register with the Directorate General of Taxation.
The changes were detailed on October 15, 2019, when the resolution of the General Directorate of Taxation (DGT) No. DGT-DGH-R-060-2019, entitled "Procedure for requesting registration, special orders for the authorization of exemption or reduced rate of Value Added Tax (VAT)", was published in the Official Newspaper La Gaceta."
The Guatemalan Congress approved a bill that contemplates the creation of a special tax regime for agricultural activity.
Although this bill was involved in controversy days ago, as the chambers of industry and commerce expressed their opposition, Congress decided to approve the bill. See full bill.
Regulations of the Value Added Tax Law in Costa Rica are in public consultation until February 4.
From the Ministry of Finance press release:
January 29, 2019. With the aim of achieving the greatest possible citizen participation in the implementation process of the Law to Strengthen Public Finances, from today, Tuesday, January 29 and until next Monday, February 4, the Ministry of Finance will have available to the public the proposed "Regulation of Title 1 of Law No. 9635 of December 3, 2018, called "Value Added Tax Law" (VAT).
Calendar of payments of obligations corresponding to December 2018 and tax memorandum on the data update before the Superintendence of Tax Administration.
Tax calendar of obligations corresponding to December 2018:
Friday, 14th
Monthly Income Tax withholdings for Employees
Friday, 14th
Withholdings on income from real estate and furniture (interest)
The tax reform law that would be approved in second debate in the coming weeks, involves the exoneration of arrears and penalties for taxpayers who pay their debts in the first three months after the publication of the law.
The proposed measure consists of exonerating 100% of the interest on arrears and up to 80% of the penalty to taxpayers who pay in the first month after the Law is published in the official newspaper La Gaceta.