Panama: Proposal to Suspend Tax Payments


News from Panama / Tuesday, March 24th, 2020

In view of the emergency arising from the spread of covid-19, a bill was submitted to the Assembly proposing a 90-calendar-day suspension of the payment of municipal and national taxes.

The initiative also establishes the suspension for 90 days of the payment of electricity and drinking water, as well as mortgage and personal loans, among others, reported the National Assembly.

The initiative also provides for the cessation of the collection of employer’s social security contributions.

The document that was presented to the National Assembly states that “… it seeks to rationalize hygiene and cleaning products, and also adopts measures of flexibility with private and state banks.

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