Site Meter
Send Us An Email
Panama Guide

Welcome to Panama Guide
Sunday, March 24 2019 @ 03:24 AM UTC

New wage and tax requirements

Money MattersNew Panamá minimum wages take effect as of 16 December. Affected are minimum wage earners in government, small and medium businesses, and domestic workers. Government will begin paying at least $300 a month. The small business owners who have gross receipts under B/150,000 will begin paying at least $310 a month. Medium businesses with gross receipts between B/150k and 2.5 million will pay at least $325. The Chamber of Commerce and Industries estimates that some 172,000 workers will be taking home (and spending) between $25 and $40 a month more -- which should be good for the overall economy. Domestic employees will earn at least $194 a month. There are also changes in the filing requirements for the tax returns for 2008 which will be explained today. Basically filing the returns for medium companies will be done electronically and will require some additional registration procedures. We'll share those changes in more detail as they become available. *** Tom is a US CPA and QuickBooks Pro Advisor. He consults with PanUS Accounting & Tax Services, SA. You can reach him at tom@panamaquickbooks.com
Share
  • Facebook
  • Google Bookmarks

Story Options

New wage and tax requirements | 1 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
New wage and tax requirements
Authored by: Anonymous on Wednesday, December 19 2007 @ 10:30 PM UTC

CORRECTION! there's a typo - domestic employees must earn at least $134 (not 194).
Tom