Excise Tax For Liquor Will Be Modified

Tuesday, July 09 2013 @ 09:25 pm EDT

Contributed by: Anonymous

During the celebration of the Cabinet Council on Tuesday, the bill 057-13 was approved, which amends the section 7 of Law 45 from 1995, which proposes amendments to the Law 15 of March 12, 2013, related to the Excise Tax for Liquor and other provisions.

Through this, the Minister of Economy and Finance, Frank de Lima, is authorized to present the draft Cabinet Resolution 122-13 to the National Assembly (AN).

According to the exposition of this bill, it has been observed that this tax is withheld by the National Customs Authority (ANA), and this should not be because this tax must be directly collected by the National Revenue Authority.

It was proposed to make changes to Law 45 of November 14, 1995, because there is currently confusion between businesses related to the import, export, distribution and sale of alcoholic beverages regarding which entity is responsible for collecting this Excise Tax. (Panama America)

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