The Panamanian tax authority (DGI) has issued resolution 201-10585 imposing fines for the use of “pre-accounts” as a substitute for invoices or equivalent tax documents. Penalties range from PAB 5,000 to PAB 10,000 (approximately EUR 4,500 – 9,000) and may include temporary closure of the establishment for repeat offenses. Repeat offenders may face higher fines of PAB 10,000 to PAB 25,000 (approximately EUR 9,000 – 22,500) along with temporary closure of the establishment. These sanctions came into effect on 15 December 20.
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