In order to give individuals and corporations the opportunity to catch up with this obligation interrupted by the pandemic, authorities extended until July 17 the deadline for declaring income tax payments.

The term to cancel this commitment with the Panamanian State expired on March 31, 2020, and an extension was added until May 30, given the circumstances with the effects of covid-19, the difficulties presented by many companies and the time needed by public accountants to submit such statements, explained the representatives of the General Directorate of Revenue (DGI).

Publio De Gracia, head of the DGI, said that “… The term to cancel this commitment with the Panamanian State expired on March 31, 2020, and an extension was added until May 30, given the circumstances with the effects of the COVID-19, the difficulties presented by many companies and the time needed by public accountants to submit such statements, a new deadline was set.”

Regarding the collection and public expenditure, De Gracia added that “... if you do not have income as on this occasion, you have to resort to debt to cope with what the COVID-19 represents, where it is necessary to comply with the commitments that the State has to guarantee the welfare of the population. Such as the economic assistance programs: Angel Guardian, 120 to 65, Network of Opportunities, Universal Scholarship and electricity subsidy, among others that represent $1,600 per year.”
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