In Panama 13.28% of Taxpayers Have Updated Their RUC with DGI
The RUC update, which was scheduled to be completed on August 31, has been extended to December 31.
A total of 13.28% of the taxpayer population of the General Directorate of Revenue has been updated, reported Daniela Amado, a lawyer with the DGI, who acknowledged that this is a worrying number with three months remaining until the deadline for updating the RUC at the DGI. “So far, 13.28% of taxpayers have updated their tax returns. October, November, and December are still pending to complete the update and avoid the penalties contemplated by the tax code,” Amado said on Reporte Estelar on Kw Continente.
The penalty for individuals who fail to comply with this requirement is $100, while for legal entities it is $500. “It’s truly a worrying figure, so we want taxpayers to be able to make this update. It’s a two-way issue: us providing access and enabling taxpayers to comply,” he noted. Amado indicated that Panama is following the recommendations of international organizations, since, he said, “it is important to have accurate and truthful figures.” “It’s important that taxpayers be able to make this update,” he stated.
The official recalled that the RUC update was due August 31 but is now extended to December 31st because of only 13.28% interest by taxpayers
