• Service: Tax, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 10/2/2013

Panama - Tax amnesty deadline is December 2013 

October 2: Tax amnesty is available for taxes administered by Panama’s tax administration* for tax years as early as 2011 and later. The deadline for requesting to participate in the amnesty program is 6 December 2013—three months after the effective date of the legislation.

*In May 2013, Panama changed the name of the tax administration from the Dirección General de Ingresos (DGI) to the Autoridad Nacional de Ingresos Públicos—ANIP

Tax amnesty law

Ley No. 51 (published 6 September 2013) provides that:

  • Taxpayers that participate under the tax amnesty program are subject to an additional income tax.
  • Taxpayers under the tax amnesty program cannot be audited by the ANIP until 31 August 2014. However, taxpayers that have already been subject to a tax audit by the previously named tax administration (DGI) or subject to judicial action by the tax administrative court cannot participate in this amnesty program.
  • Taxpayers that participate under the tax amnesty program must agree to pay a certain percentage of the amount of tax owed.
  • Taxpayers with outstanding tax debts may remit the tax and not be subject to penalties and surcharges, and only be subject to 75% of interest (there is a 25% reduction of applicable interest) during the three months following the effective date of the law, until 6 December 2013.

Read a September 2013 report (Spanish) [PDF 252 KB] prepared by the KPMG member firm in Panama: Regularización de los tributos administrativos por la Autoridad Nacional de Ingresos Públicos (ANIP)

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