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Where it all begins!
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CENTRALAMERICANEWS
| Wednesday 18 August 2010 |
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Actions
Against
Tax
Evasion
in
Panama
Promoted
PANAMA -
Panamanian
authorities
promote
actions
to stop
the tax
evasion
in the
country
due to
the
losses
generated
by this
problem,
estimated
at
around
US $300
million
annually.
The
introduction
of cash
registers
with
fiscal
printers
in
stores
is one
of the
options
considered
by the
Ministry
of
Economy
and
Finance.
According
to the
ministry,
about
58,000
establishments
are
required
to check
the
sales
through
that
mechanism,
to
thereby
ensure
the
cashing
of the
Goods
and
Services
Transfer
Tax (ITBMS).
This
will
allow
the
officials
of
Incomes
General
Direction
to
extract
information
from the
boxes
and
check it
on the
computers
of the
entity.
In
addition
to,
surprise
audits
will be
done to
avoid
the use
of
systems
other
than
those
prescribed
by law,
which
occurs
when
dealers
try to
evade
the tax
code in
its
operations.
The
equipment
costs
between
US
$300,000
and
800,000
that is
why a
loan is
contemplated
by the
state to
facilitate
their
acquisition.
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Costa Rica's Daily English News
Source
Apdo. 2133-1000, San José, Costa
Rica
Tel: (506) 2231 3205 / (506) 8399
9642
Fax: (506) 2232 6337
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