Panama City Hall launches moratorium plan from September 16 to October 16, 2024

From September 16 to October 16, a moratorium will be applied to businesses that will give 100% exemption on surcharges and interest on business taxes and 50% on fines for not filing an income tax return, according to Olmedo Rodríguez, Municipal Treasurer of the Mayor’s Office of Panama.

Rodríguez pointed out that: “We have encountered a backlog of accounts receivable of between 400-420 million dollars that has been going on for many years.” Olmedo attributes the figures to the lack of teachers doing their duty.

“We are accepting a single payment, you come and you should pay up to the current month” explained Rodríguez, about three phases to understand the payment methodology of the first moratorium for businesses.