Property tax withholding plan begins August 1

Panama’s  property tax withholding system kicks in on August 1, to speed up the receipt of payments. 

Rafael Brown, legal advisor of the DGI. told TVN that “it is not a new tax, but a collaborative mechanism between the institution (DGI), the banks or financial entities that become retention agents.

and the taxpayer, so that the collection of this property tax be expedited, which is an obligation of

those who are not exempted by the regulations of either the incorporation of first homes, family assets

or any other exemption ”. the advice of the DGI, explained that to make use of the system, taxpayers only have to link an account either current or savings,  or a new exclusive for this purpose, so that there is the funding of the money that will be collected in the items corresponding to the property tax, mainly from 2019.

This whole process can be done on the website www.dgi.mef.gob.pa