DGI Launched An Aggressive Plan To Demand The Issuance Of Tax Invoices

(MENAFN- Newsroom Panama) The
General Directorate of Revenue (DGI)
has launched an aggressive program to require the issuance of tax invoices, President José Raúl Mulino announced on Thursday.
According to the president,
1,024 businesses have been inspected to date and
$468,000
in fines has been imposed
for non-compliance.
Mulino explained that one of the main sources of tax evasion is the
7% Transfer Tax on Movable Goods and Services (ITBMS).
With this aggressive action, the government intends that businesses, which are obliged to invoice and pay the ITBMS, do so.

The president explained that as of July 1, the DGI had
4 inspectors, however at this time they have
15
and they hope to reach
50 inspectors.
Until that happens, they will be assisted by inspectors from the
Consumer Protection and Competition Authority (Acodeco)
to make up for the shortcomings that the DGI currently has and to have a more aggressive plan for billing at 7% and paying the treasury.
“It's not worth it on the bill, because they include it on the bill and the business keeps the 7% that belongs to the Panamanian State,” he said.
He said that this bad practice is an established culture, even he, who is the President of the Republic, has been asked in two restaurants if he wants a tax receipt.

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