Presentaciones de la Declaración de Renta en Panamá y sus Prórrogas
In Panama, filing the Income Tax Declaration (ISR) is a fundamental requirement for individuals and businesses generating income in the country. Complying with this fiscal duty ensures adherence to legal regulations and contributes to the financial stability and transparency of both companies and individuals. Below, we explain the deadlines, requirements, and extension options available.
What is the Income Tax Declaration?
The ISR is a tax levied on the income earned by individuals or businesses during the fiscal year. This tax must be declared and submitted annually to the General Directorate of Revenue (DGI), reflecting the corresponding income and expenses.
- Individuals: Includes employees, independent professionals, and merchants.
- Businesses: Companies and legal entities registered in Panama.
Deadlines for Filing the Declaration
According to Panamanian regulations, the established deadlines are as follows:
- Personas Naturales: Until March 15 of the year following the end of the fiscal year.
- Personas Jurídicas: Until 31 de marzo of the year following the end of the fiscal year.
What to Do if You Can’t File on Time?
If you cannot meet the deadlines, you can request an extension from the DGI. This request must be made before the initial deadline, and once approved, it extends the time limit for filing the declaration. prórroga ante la DGI. Esta solicitud debe realizarse antes del vencimiento del plazo inicial y, una vez aprobada, extiende el tiempo límite de presentación de la declaración.
- Individuals: Extensions can be requested until April 15.
- Businesses: They can also apply for this additional period if the request is submitted on time and correctly.
It is important to note that the extension only provides additional time to submit the declaration but does not alter the payment deadlines for the corresponding tax.
The Importance of Fiscal Compliance
Filing your income tax declaration on time and accurately helps avoid penalties, interest, and potential conflicts with tax authorities. It also demonstrates a commitment to fiscal compliance, strengthening your company’s reputation or your personal financial history with financial institutions.
Optimize Your Income Tax Declaration with CASATTIS
At CASATTISwe help you efficiently manage and file your income tax declaration. Our services include:
- Management of income tax declarations for individuals and businesses.
- Comprehensive tax advisory services.
- Support in requesting extensions from the DGI.
- Preparation of financial reports to ensure regulatory compliance.
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