In this scenario of economic crisis, falling tax revenues and the need to finance recovery programs, in Guatemala and Costa Rica it is already proposed to increase current taxes and create new ones.
Guatemalan authorities are already beginning to discuss the fiscal policy they will apply in 2021, when the economy will have to face the effects of the economic crisis generated by the covid-19 outbreak.
On average in Costa Rica more than one in five companies classified as Large Taxpayers do not pay taxes.
EDITORIAL COMMENT:
When the Tax Department does not fully complete its duties, competition between companies is settled not by the quality of products or services, or for the excellence of its managerial staff and their strategic direction, but for the ability of their tax advisors to reduce the amount of taxes paid.
A bill intends to give taxpayers the opportunity to get in order tax payments owed due to errors or inaccuracies up to the fiscal year 2011.
A press release from the Ministry of Economy and Finance of Panama reads:
The Government will provide an opportunity for taxpayers to manage their tax obligations with the National Revenue Authority (ANIP), which occurred due to inaccuracies or errors, exempting them from liability for such acts up to the fiscal year 2011, presented the head of the Ministry of Economy and Finance (MEF), Frank De Lima, by a bill before the full National Assembly.
Given the failure of the monthly payment system, income tax payments will be made in three installments a year and will be calculated using estimates.
According to an article in Prensa.com "With this move the government recognizes the failure of an unwieldy mechanism and that has not generated the expected revenues. Tax consultant Osvaldo Lau said that ‘the aim was to improve cash flow, but the exercise failed, because the absolute value of tax revenues did not meet expectations. '"
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