PROPERTY TAX MORATORIUM

 

 

The Republic of Panama enacted Law 49 of September 11, 2018, which modifies the Fiscal Code and Law 66 of 2017 in matters pertaining to the payment of Property Tax, worker-employer contributions to the Social Security Fund, and establishes other provisions regarding to the payment of the Annual Franchise Tax for corporations and private interest foundations.

In this respect, be advised that said Law grants a moratorium period for the payment of fines and surcharges generated by the non-payment of the Annual Franchise Tax for corporations and private interest foundations that are duly constituted and registered in the Republic of Panama. The Moratorium also applies to the fine for the reactivation of corporations.

Simply put, the entity will only have to pay the original annuity amount, as it will have a 100% exoneration in the matter of fines ($300), surcharges ($50) and reactivation ($1,000) from starting 3 years of existence of the debt with the Treasury.

We urge you to request your Statement of Account - Exempt from to our Accounting Department by writing to the e-mail This email address is being protected from spambots. You need JavaScript enabled to view it. and effect immediate payment by using the bank information here included.

The moratorium period granted by this Law began on September 11 and will be valid until December 31, 2018.

For more information, contact our Corporate Department at This email address is being protected from spambots. You need JavaScript enabled to view it..