Tax avoidance raiders swoop on Panama malls

INSPECTORS of the General Directorate of Revenue (DGI) swooped on six malls in Panama City on Saturday, Jan 5  to verify the proper collection of sales tax.

The unannounced raids started as 3:30 pm with officials visiting Soho Mall, Albrook Mall, Multiplaza, MetroMall and shopping centers in El Dorado and Los Andes.

Earlier in the year stores and restaurants in Casco Viejo were raided.

Penalties for not properly collecting the sales tax range can reach $5,000, and up to $15,000 for repeat offenders.

Customers can be fined up to $500 for failing to get a receipt.
Tax revenues collected between January and October were $3.9 billion, a slight increase from the same period last year.