Buscar

Tax Amnesty period - Extension

Dear Client, We inform you that an extension to the general tax amnesty period has recently been approved for the payment of taxes of the General Directorate of Revenue (DGI) of the Ministry of Economy and Finance (MEF), Law 134 of March 20, 2020 (amends Law 99 of October 11, 2019). Through this law the Tax Amnesty is extended until June 30, 2020, so that payments made up to this date will have a remission up to 85% of all interest, surcharges and fines. Meanwhile, it has been extended until December 31, 2020, the deadline to fully comply with the payment arrangements made until February 29, also for payment arrangements that are formalized after February 29, taxpayers will have until December 31, 2020 to pay with the benefits granted by this amnesty extension project,  as long as they pay 25% of the nominal tax due at the time of signing the payment agreement. For more details and advice on this matter, do not hesitate to contact our tax team: info@ipal.com.pa IPAL - Infante & Pérez Almillano