Retail tax evaders in the majority

RETAIL TAX evaders in Panama faced a second blitz by the  General Directorate of Revenue (DGI) on the weekend, with  86 percent of the 30 businesses visited in San Felipe and the Amador Causeway shown to have “irregularities” in the collection of taxes.

Two premises in San Felipe who slipped through the net in a previous raid were fined for not having equipment required to track sales.

The DGI requires that a tax of  7 percent on  sales be turned over to the treasury.

“If a business is not doing that, it is a form of tax evasion, because that tax belongs to the treasury,” said DGI official María Elena Moreno.

Business owners have 15 days to appeal fines. If additional irregularities are found, businesses face increasing penalties.