There is an unstoppable reality and it is the right of countries to pursue the sustainability of their economies, beyond the great global agreements on issues such as the best taxation model.
This reality has become evident during the forum Perspectives on the taxation of the digital economy, sponsored by Capital Financiero, the tax platform Connectax and the International Fiscal Association (IFA Panama Group), to address what is on the table for international discussion, in addition to commenting on the recent experiences of Mexico and Colombia with the collection of the digital Value Added Tax (VAT), the equivalent in Panama to the Tax on the Transfer of Material Goods and Services (Itbms).
One thought is key and provides the rationale for the statements made at the Forum: "The crisis in public finances as a result of COVID-19 has accelerated the discussion within governments on how to increase tax revenues in a recessionary economic environment".
The activity was moderated by José Galíndez, partner at Galíndez, Medrano & Asociados and director of the IFA Panama chapter, and presented by Amanda Barraza de Wong, senior tax associate at Morgan & Morgan and director of the IFA Panama chapter, who highlighted the efforts of this initiative that allows knowledge to be taken beyond borders and contribute to the economies of the countries in the region.
The speakers were Natalia Quiñones, partner at Quiñones Cruz and former president of IFA Colombia; Fernando Robles, director of Tax at Siemens Energy and Betty Andrade, lawyer and research associate at IBFD.