Government Presents Draft Moratorium For Tax Payments Until December 31
Date
10/15/2024 4:17:53 AM
(MENAFN- Newsroom Panama)
The Ministry of Economy and Finance (MEF) presented Monday, October 14, before the plenary session of the National Assembly, a bill for a tax moratorium, which would be until December 31, 2024. The head of the MEF, Felipe Chapman, stressed that this moratorium seeks to resolve some of the system's shortcomings, in order to provide taxpayers with better conditions for fulfilling their obligations in accordance with the principle of tax justice. “This bill proposes a moratorium period until December 31 of this year 2024, for the payment of interest and surcharges caused by income tax, property tax, tax on the notice of operation, tax on the transfer of tangible and movable property and the provision of services (ITBMS), selective consumption tax (ISC), and the single rate for legal entities, which constitutes the goal to achieve the normalization of taxpayers in tax payments,” Chapman explained. The Minister of Economy argued that this initiative could achieve better results in the fiscal process of 2024. He also pointed out that the moratorium addresses the current situation of high delinquency in tax payments, which entails a burden on several sectors.
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