The Ministry of Economy and Finance (Ministerio de Economía y Finanzas) issued an executive decree (No. 356 of 16 July 2020) to postpone the deadline for filing tax returns and for paying tax—measures intended to offer relief in response to the coronavirus (COVID-19) pandemic.
The due date is postponed to 31 July 2020 for:
A separate executive decree (No. 357 of 16 July 2020) addresses rules concerning the alternative tax on income calculation (known as “CAIR”). In general, the decree reduces the period allowed for the tax authority to issue a ruling on taxpayer requests for non-application of the CAIR regime to three months. In other words, for requests submitted after 31 July 2020, the authority has three months to issue the ruling. If a ruling is not issued, then it will be understood that the request has been accepted.
Finally, the tax authority (Dirección General de Ingresos) issued a resolution (No. 201-4168 of 16 July 2020) that extends the deadline to 31 July 2020 for taxpayers to present a report of payments made to third parties and reports of amounts received for fiscal year 2019.
Read a July 2020 report (Spanish) prepared by the KPMG member firm in Panama
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