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Panama: Tax amnesty program for Municipality of Panama

Exemption from fines, penalties, and interest for both individuals and legal entities

September 12, 2024

The Municipality of Panama is offering a tax amnesty program providing exemption from fines, penalties, and interest for both individuals and legal entities who pay their full principal amount due, and 50% of the fine for non-submission of the annual revenue return, between September 16, 2024, and October 16, 2024.

The exemption does not apply to taxpayers who failed to notify the Municipal Treasury about the establishment of their businesses or taxable activities within the Panama district for proper registration and classification or who fail to file their annual income tax return for the current year with the Municipality of Panama.

Read a September 2024 report prepared by the KPMG member firm in Panama

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