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Law that recognizes the discount for retirees as a credit

Catherine Perea 23 Dec 2020 – 04:32 PM

The Panamanian president, Laurentino Cortizo sanctioned the Law 192 of December 23, 2020, which modifies Law 6 of 1987 on benefits for retirees, pensioners and the elderly.

The new law establishes that discounts and concessions for retirees will be 100% deductible as a tax credit for income tax.

Also additional an article that indicates that tax credits may be transferable by assignment.

The initiative was approved in the third and last debate in the National Assembly (AN) last October.

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