close
Share with your friends

Panama: Exemption from real estate transfer tax for certain residential transactions

Panama: Exemption from real estate transfer tax

Law 94 (“Ley 94 de 2019”) provides for an increase with regard to a preferential interest regime on certain home mortgage loans and also rules for an exemption from the real estate transfer tax.

1000

Related content

The real estate transfer tax exemption is available with regard to the sales of new homes that occur within the first five years after the issuance of the occupancy permit if the construction permit was issued between 1 July 2016 and 1 July 2019 or if the occupancy permit was issued before 1 July 2022.

The requirements for the exemption from the real estate transfer tax include notification to be made to the Ministry of Economy and Finance (this notification is to be made on a form to be supplied by the tax authority (DGI)).

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal