On Tuesday, through law No. 66 of October 17, 2017, Panama modified the Property Tax rate levied on properties located in the Republic of Panama.

Although this law starts in 2019, a moratorium period is granted, that completely eliminates interest and unpaid charges due to the delay in property tax. This exception has no limit on late payment back, but will only be in force until December 31, 2017.  On that date the entire balance owed to the Panamanian Treasury property tax must have been paid.

The moratorium does not apply to any other taxes.