Tax advisor, Javier Miter provides tools to know how to save taxes legally

The lawyer and tax advisor, Javier Mitre, provided this Monday on Radio Panama, some tools to know how to save taxes legally.

He began by mentioning the case of professional natural persons, indicating that regardless of whether they file a return, one of the ways to save is to take duly billed medical expenses as a way to reduce taxable income.

Similarly, school expenses, which a few years ago were introduced into the legal tax system as a way to deduct both dependents and own expenses.

He also added that the expenses in terms of interest on loans for education, either with loans obtained from the private sector or even by the Ifarhu.

In the case of couples, the spouses can file joint returns. “The law recognizes $800 flatly to reduce the taxable income,” Miter specified.