The cement shortage could delay the culmination of some works and those that are not registered in the Public Registry before the 31 of August of 2007 will lose the opportunity to benefit with the exoneration, for 20 years, of the tax of buildings.
The houses that received their permission of construction before the 1 of September of 2006 and whose improvements are registered in the Public Registry before next the 31 of August will enjoy 20 years of exoneration of the tax of buildings, but those that are registered after this date will lose that fiscal benefit.“If because of shortage of supplies of any basic material of construction, like the cement, it has delays in works and do not manage to register the improvements in time, this pair, for example, whose residence is valued in 300 thousand dollars, it will lose 15 years of exoneration”, notices the tributarista Oswaldo Lau. In agreement with the effective rates, the new house buyers will have to pay to the state treasury about 5 thousand 500 annual dollars by that property, as of year 2012. And the 15 years of exoneration that will lose as a result of the new established fiscal rules in the tributary reform of 2005 are equivalent to 82 thousand 500 dollars that they will have to remove from his pockets to fulfill this tributary obligation.
“When we have new properties with diminished exonerations, we will begin to see the change that will take place in the real estate sector in favor of the secondary market”, it emphasizes Lau. “There will be a distorted market, with properties just constructed that later enjoy 20 years of exoneration and others constructed to one or two years just by 5 years of exoneration, which will only affect the sale price to favor of the promoters”. “The staggered” elimination of the exoneration of the tax of buildings by 20 years will mainly harm the buyers of new houses of high value and will favor to the coffers of the State. One hopes that the collection of this tribute increases significantly as of this year. According to the statistics of the Main directorate of Ingresos (DGI), the Government collected by this tribute 47,1 million dollars in 2006, 6,5% more than in 2005. La Prensa .- Panama
The houses that received their permission of construction before the 1 of September of 2006 and whose improvements are registered in the Public Registry before next the 31 of August will enjoy 20 years of exoneration of the tax of buildings, but those that are registered after this date will lose that fiscal benefit.“If because of shortage of supplies of any basic material of construction, like the cement, it has delays in works and do not manage to register the improvements in time, this pair, for example, whose residence is valued in 300 thousand dollars, it will lose 15 years of exoneration”, notices the tributarista Oswaldo Lau. In agreement with the effective rates, the new house buyers will have to pay to the state treasury about 5 thousand 500 annual dollars by that property, as of year 2012. And the 15 years of exoneration that will lose as a result of the new established fiscal rules in the tributary reform of 2005 are equivalent to 82 thousand 500 dollars that they will have to remove from his pockets to fulfill this tributary obligation.
“When we have new properties with diminished exonerations, we will begin to see the change that will take place in the real estate sector in favor of the secondary market”, it emphasizes Lau. “There will be a distorted market, with properties just constructed that later enjoy 20 years of exoneration and others constructed to one or two years just by 5 years of exoneration, which will only affect the sale price to favor of the promoters”. “The staggered” elimination of the exoneration of the tax of buildings by 20 years will mainly harm the buyers of new houses of high value and will favor to the coffers of the State. One hopes that the collection of this tribute increases significantly as of this year. According to the statistics of the Main directorate of Ingresos (DGI), the Government collected by this tribute 47,1 million dollars in 2006, 6,5% more than in 2005. La Prensa .- Panama
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