Property Taxes – Payment – Discount
The General Directorate of Revenue (DGI) of the Ministry of Economy and Finance (MEF) reminds natural and legal persons to pay the Predial Tax on time.
Property Tax is paid quarterly, the established dates are:
- April 30th
- August 30th
- December 31
Said tax is collected on all land and other permanent constructions that are carried out on them. The cadastral value of the property plus the total of the improvements made is determined as the taxable base.
If you wish to make a single annual payment, the taxpayer obtains a discount on the total tax; This payment must be made in the first months of the year.
On the contrary, if the tax is not paid on any of the established dates, the taxpayer will have a surcharge of 10% plus the interest established by law.
Written by Carla Borges.
At ba-lawfirm.com we have a specialized team ready to guide you in your procedures and Legal Services in Panama, do not hesitate to contact us and we will gladly coordinate an appointment. You can contact us through our email consultas@ba-lawfirm.com.
