Panama Ministry of Finance Submitting Draft Bill to Extend Tax Amnesty and Other Relief

According to recent reports, Panama's Cabinet has authorized the Ministry of Finance to submit a draft bill in the National Assembly providing for an extension of the general tax amnesty and other relief. Measures include:

• An extension of the general tax amnesty with 85% relief from interest, surcharges, and fines (penalty relief) in respect of taxes due up to 31 December 2020 if paid in full by 31 July 2021;
• An extension of the installment payment facility for payment agreements entered int…