With this new legal initiative, the taxpayers have the opportunity to clear tax debts without interests, surcharges and fines and to file forms past due without penalties.

Taxes included

Those managed by the Revenues General Directorate

What does the tax amnesty refer to?

  • Condonation of:
  • Interests
  • Surcharges
  • Fines

Tax Amnesty Term

If paid Condonation %
by Nov 30 100%
By Dec 31st 95%
By Jan 31st 90%
By Feb 28th 85%

Reports due to the DGI can be filed until Dec 31st, 2019 without triggering a fine:

  • Donations Report
  • NGO´s Report
  • Form 03
  • Form 40 on Retirement Fund
  • Form F-41 insurance companies
  • Form 42 interests certification
  • Form 43 Purchases Report
  • Credit Cards sales Report F-44
  • F930 Transfer Pricing Report
  • Remittances Abroad Report for SEM and Panama Pacifico Companies.
  • Others which establish a fine for late filing

Payment Arrangements

Apply with the payment of 25% of the debt and the remaining portion is cancelled no later than June30th of 2020 and the % of interests, surcharges and fines condoned depends on the month the payment arrangement is executed.

Use of the Benefit in the Law

The interested party must communicate his interest either in person, through a POA or by means of the eTax2.0.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.