Tuesday, 23 August 2022 16:16

Favorable opinion for tax amnesty that could raise US$40 million in taxes

Written by Evelyn Alas

Approximately US$40 million in taxes could be collected by the Ministry of Finance through the proposed Special Transitory Law for the Voluntary Compliance of Tax and Customs Obligations, in which the deputies of the Treasury and Special Budget Committee issued a favorable opinion.

The measure covers all taxpayers, including those notices filed by the Minister of Finance, Alejandro Zelaya, before the Fiscalía General de la República (FGR) for tax evasion.

There are 175 notices filed with the Public Prosecutor's Office, data provided by the Ministry of Finance, equivalent to some US$155 million that the State could recover if businessmen who owe this debt to the Ministerio de Hacienda decide to comply with the payments and receive the benefits of the transitory decree.

According to what has been established by the authorities, taxpayers who have a court ruling on a certain tax will not be able to avail themselves of this benefit. The rest of individuals and legal entities have until November 1st to avail themselves of the decree.

The General Director of Internal Taxes of the Ministry of Finance, Marlon Vásquez, explained that this measure will help taxpayers to regularize their tax status with the Ministry of Finance for taxes until july 31, 2022.

He also expressed that this is an opportunity for all taxpayers, especially for medium and small businessmen who, due to the pandemic, have had difficulties to pay their taxes.

The application of the amnesty would be through the web portal of the Ministry of Finance, from where the payment orders would be generated and divided into nine installments for the convenience of taxpayers.