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Tuesday, June 25 2019 @ 04:38 AM UTC

After Announcing Moratorium - DGI Has Collected Millions

Money MattersBy Denise Lara for Telemetro Reporta - In less than a month, and after the adoption of the Moratorium Act in mid-August, the Directorate General of Revenue (DGI) of the Ministry of Finance has raised more than $12.8 million dollars in the payment of back taxes. A breakdown provided by the DGI reported that as of Wednesday, 2 September 2009, they had collected more than $3 million dollars in taxes owed by corporations, almost $1 million in individual income taxes owed, almost $3.5 million in back property taxes, another $2.5 million in ITBMS sales taxes, and an additional $1.1 million from other taxes owed. This moratorium gives taxpayers until 31 December 2009 to pay back taxes owed that are administered by the Department of Revenue of the Ministry of Economy and Finance, which are exempted from fees, interest, or penalties due through 30 June 2009. Eligible for the moratorium period are individuals who are in a state of delinquency, including those who already have signed payment agreements, taxpayers, withholding agents and others responsible for taxes, and people who are or have been audited and are awaiting the issuance or notification of the respective resolution, and litigation settlements that required additional charges for trade or any other charge, any administrative process or from the Supreme Court, after desisting from the action or appeal for payment of the obligation. (See Comments)

Editor's Comment: If you owe money back taxes to the Government of Panama for practically any reason, here's your chance. You can make the payments and escape having to pay any fees, fines, or penalties. You might want to check the status of your property taxes just in case...

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