The deadline for submitting the income statement is expiring

Director Directorate General of Revenue (DGI), Publio De Gracia Tejadaplease note that March 15th is the deadline for submitting an affidavit of income for individuals, in accordance with the provisions of Panama’s tax laws.

The authority reiterated that all profit and loss accounts are prepared through e-tax system 2.0 and that taxpayers must review the Certified Public Accountant (CPA) Act, which states that these professionals must certify their presentation.

By grace He asserted that situations were detected in which the system was violated by false declarations, and therefore the CPA guarantees that they correspond to the regulations and are authentic.

Current presentation expiration period daffidavit of current incomecorresponds to the income generated from work and activities performed during 2022, which have the obligation to report the relevant process as stated in the Tax Code.

Expiration dincome certificate for a natural person it is until 23:59, today 15.03.

In case of legal entities (companies) They have until the end of the month to submit their income statement under oath.

The the income statement is a formality which natural or legal persons must carry out every year, and which, as the name itself says, must “declare” their income and expenses during the immediately preceding year, i.e. that in 2023 you will pay the income for 2022.

The declarations on the income of natural persons they must be completed before March 15 of each year, and those of legal entities before March 31 of each year. The taxpayer has the option to request an extension, which gives him an additional month to file the return without penalty.