According to the provisions of Law No. 208 of April 6, 2021, the tax amnesty will expire on August 31. However, the general head of the DGI (Dirección General de Ingresos – General Directorate of Revenue), Publio De Gracia, recalled the entity will continue to be flexible with those taxpayers who have been affected by the pandemic.
1. Amnesty and collection
It is important to remember that the amnesty was made for taxpayers delinquent in the payment of their taxes, fees, and special contributions to January 31 of this year. In that sense, De Gracia explained that different facilities are being given before the current special period but also strengthen mechanisms to control tax evasion and tax fraud.
On the other hand, the Director of the institution also reported that in the coming days it will be known the first cases of fraud will be directed to the Public Prosecutor’s Office for investigation, based on Law 70 of 2019, which punishes the facts of an amount greater than 300 thousand dollars.
2. Entrepreneurship support
Finally, Publio de Gracia informed that the electronic invoice will be free of charge for micro, small businessmen, and entrepreneurs, considering the experience they have lived. In this regard, the following was commented among the figures stated:
“For July 2021, the current income reflected a total of $457.9 million. Of this total, $298.9 million pertains to tax revenue collection, $155.4 million to non-tax revenues, and $3.6 million to other current income.
Comparing the budget law, the current income showed a surplus of $30.5 million for July 2021 compared to the previous year, it displayed a decrease of $33.3 million.
Regarding the ITBMS (Impuesto de Transferencia de Bienes Materiales y Servicios – Tax on the Transfer of Tangible Goods and Services) for sales, the collection was $57.5 million, exceeding $52 million budgeted, an increase of 10%. Over last year, the increase was 3.6%.”
Source: Panamá América 19/08/21