The Municipality of Panama is reminding taxpayers in the capital district that this week is their last chance to secure a 10 percent discount. The incentive applies to the timely filing and payment of the Annual Sworn Statement of Income for the 2026 fiscal year. Officials confirmed the deadline of January 31 for discounted payment, with a final filing deadline of March 31 to avoid penalties.
This annual declaration is a mandatory requirement for all individuals and businesses holding an active operating license since 2025 or earlier. Failing to file the declaration by the March deadline triggers an automatic fine of 500 dollars. Beyond legal compliance, the municipal treasury emphasizes the financial benefit of early action.
“Filing early is not just a legal duty, it represents a direct economic incentive for the taxpayer,” a municipal treasury official stated. [Translated from Spanish] “Completing the process and paying the total amount in January allows them to receive a 10 percent discount on business and outdoor advertising taxes. This helps them start the year with greater financial peace.”
The municipality has extended office hours and established in-person assistance centers to manage the end-of-month rush. Taxpayers can visit the Gladys Vidal theater in the Hatillo building for direct support from trained staff.
Streamlined Digital Process for Tax Filing
Officials are directing residents to use the digital platform for a faster procedure. The process is designed to be straightforward. Taxpayers must log into the ‘AlcaldÃa Digital’ portal and select the Sworn Statement of Gross Income option. The system then generates a personalized settlement. Users should verify the 10 percent discount is correctly applied before proceeding to a secure payment gateway.
Multiple payment channels are available for convenience. People can pay online or in person using electronic banking, ATMs, the Yappy mobile app, Visa or Mastercard, the Clave system, or cash. This flexibility aims to reduce barriers and encourage timely compliance. Organizing finances early provides a clear start to the fiscal year, authorities noted.
The mandatory Sworn Statement of Income is a core part of local business regulation in Panama City. It determines the annual license fee based on a business’s gross income from the previous year. Filing it on time is more than avoiding a fine. It allows businesses to accurately forecast their annual tax burden and manage cash flow accordingly.
Municipal treasury representatives will maintain extended support services throughout the week. They urge taxpayers not to wait until the final day to file. System delays or last-minute questions could prevent them from securing the valuable discount. Proper planning is the key to maximizing the benefit.