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.
After inconsistencies were detected between purchases reported by taxpayers and sales that the company declared to the tax authority, an investigation was initiated in Guatemala into the "La Barata" supermarket chain.
During the morning of December 7, representatives of the Public Ministry (MP) and the Superintendence of Tax Administration (SAT), held a press conference in which they explained some details about a new case of alleged tax fraud by the chain of stores "La Barata."
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.
In order to tax the total amount of profits of individuals or corporations based in Costa Rica, regardless of where their profits are generated, a bill was submitted to the Assembly that seeks to amend the Income Tax Law.
Currently in Costa Rica a territorial income system is applied, which consists of taxing profits produced exclusively at the local level. If the Income Tax Law is modified, the situation could change.
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.
Until April 2 will be in public consultation in Costa Rica the regulations of the Value Added Tax Law, which incorporates the changes of the first proposal disclosed on January 29.
This is the second consultation carried out, since on January 29, 2019, the proposal for "Regulation of Title I of Law No. 9635 of December 3, 2018, denominated "Value Added Tax Law" (VAT) was made available to the public.