Property Tax moratorium rejected

Financials
The Ministry of Economy and Finance (MEF) rejects the amendments proposed by the National Assembly of Deputies to extend the moratorium decreed to property tax contained in law 66 of 2017 to other taxes that bear no relation to this tax.
In this way, we intend to extend the moratorium to obligations related to income tax, ITBMS and obligations to pay Social Security contributions.
The proposed amendment, which is in the second debate, is inappropriate since it distorts the intention to extend for a prudential period the moratorium on property tax established in Article 15 of Law 66 with its respective tax benefits.
The modifications do not contemplate the negative impact that the measure would have on the tax collections, the finances of the State and of the Social Security Fund. In addition, with this proposal a negative message is sent to taxpayers who responsibly comply with their tax obligations.
It should be noted that the MEF supports the extension of the property tax moratorium for a reasonable period, until October 2018, so that the largest number of Panamanians can benefit from the tax benefits of the measure, while updating the information of their properties before the respective instances.
Therefore, the MEF considers that the proposal as it stands is irresponsible and calls on the honorable Members to hold a sensible discussion on this issue of fundamental importance.
READ MORE:
No Comments

Leave a Reply

Your email address will not be published.

Economy
Final Qtr- of 2023 reported STRONG growth in the Republic GDP.

https://elsiglo-com-pa.translate.goog/economia/producto-interno-bruto-trimestral-crecio-89/24242734?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http Bracho: this growth translates into an increase in the hiring of people and greater income for companies The Quarterly Gross Domestic Product (GDP) grew 8.9% compared to the same period in 2022 during the first nine months of 2023, according to data from the Comptroller General of the Republic. …

Economy
Bleak job outlook for “young” Gen-Z Panamanians

https://www.laestrella.com.pa/economia/231204/jovenes-representan-54-desempleados-pais   The recent results of the Labor Market Survey as of August 2023, carried out by the Institute of Statistics and Census (Inec), which collects the evolution of employment, marked a strong trend of the crisis experienced by Panamanian youth employment. In the reference month of the survey, the …

Economy
As was case with “Moody’s” – “Standard and Poors” is downgrading Panama.

https://www.laestrella.com.pa/economia/231108/s-p-mantiene-calificacion-riesgo-panama-bbb-ajusta-perspectiva-negativa The risk rating agency Standard & Poor’s Financial Services LLC (S&P) maintained the investment grade risk rating for Panama at “BBB”, but adjusted the outlook from “stable” to “negative”, as a result of the recent protests and closures. of streets against Law 406, the Ministry of Economy and Finance …