For the first time Panama is getting serious about tax collection and the DGI (IRS) announced that they have found more than 100 case of tax fraud by various companies in the past 18 months. Actually I think that is a rather low number when you consider that tax evasion has been a national sport in the past. Now with the increased state budget they have had to get serious about tax collection, even to the point of hiring ex-IRS agents to teach them the ropes. First and foremost is highly publicized prosecutions in order to scare individuals into compliance. I would expect to hear more about this in the coming months and years. Here is an article from La Prensa on the subject.
The institution pointed out that without the internal complicity, the companies involved could not have committed the crime against the public treasury.
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| FISCO. LA DGI reported that most cases of tax fraud has been in business. PRESS / File1484388 |
Rafael E. R. Berrocal
[email protected]
The Internal Revenue Service (DGI) said it has discovered more than 100 cases of tax fraud in the past year and a half, most of them in companies engaged in business.
The Director of Revenue, Luis Cucalón, said it would keep in reserve the amount of involvement from the state and the names of companies, but cautioned that it is a criminal offense in which the fine reaches 5 to 10 times the amounts disappointed and 1 to 3 years in prison.
"Without the internal complicity in the DGI had not been such cases of tax fraud," said Cucalón without detailing whether officials of your institution is provided to help these companies to commit this crime.
The DGI said it would keep constant vigilance to prevent fraud. "Why set a date for a program that has had to operate forever," said Cucalón.
Trade is one of the main economic activities in the country, which operate more than 22 000 such companies that generate more than 99 000 places of employment.
Only in the first half retail sales amounted to 3,248 million and wholesale sales reached 4,444 million dollars. On the issue, the Chamber of Commerce, Industries and Agriculture said he was unaware the 100 cases of tax fraud were found by the DGI. "However, the Chamber of Commerce has always been a believer that tax laws must be met and it is for the DGI investigate any cases of this nature," the institution.
The Chamber of Commerce also warned that tax evasion can be proven to be causal to implement its code of ethics when those involved are members of the guild.
Another problem that is attacking DGI, through direct auditing companies, is tax evasion. In October, the institution announced that they have been able to raise 40 million in companies that found they were evading the tax authorities, most of them in the Free Zone of Colon and Panama City.
Until then the penalties for proven cases of tax evasion reached the 2 million dollars.
The Government has denied that tax audits against the companies are being used as a method of political pressure.
Argues that only part of the management of the institution to achieve the lofty goals of government tax. For 2011 the budgeted tax revenues were set at 3 billion 923 million dollars.
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