Summary.
The draft bill amends the benefits framework of Law 6 of June 16, 1987 for Panamanian citizens and permanent residents of Panama: women aged 55 or older, men aged 60 or older, and all retirees and pensioners. Article 1 sets discounts on individual meals at food establishments, medicines, medical consultations, optometry, ophthalmology, laboratory tests and radiology. It covers cancer related procedures, therapies, medicines, supplies and equipment, together with purchases of mobility, assistance and care equipment.
For a principal residence registered in the beneficiary’s name, it proposes to freeze property tax and reduce it if the cadastral value falls. It exempts the owner from the betterment levy on a sole property used as a principal residence until transfer to someone outside the beneficiary group. It provides discounts on replacement or renewal of passports, identity cards and driving licences. Discounts also apply to electricity, residential and mobile telephone service, water, internet or cable television, and waste collection charges, subject to the ownership, residential use, principal residence and consumption or contract limits specified for each service. Certain benefits extend to property owned by associations, federations and confederations of retirees and pensioners.
The same article exempts nonprofit organizations serving the beneficiary groups from registration and certification fees at the Public Registry. It adds discounts on coffins, urns and funeral services; body and oral hygiene products and disposable adult diapers; notarial charges; land registration at the National Land Administration Authority (Autoridad Nacional de Administración de Tierras); card fees, charges, commissions and insurance; rental, repair and maintenance of assistance equipment; and purchase and installation of accessibility and safety features in a principal residence. General renovations and improvements unrelated to those conditions are excluded from the last benefit.
Article 2 adds a rule requiring suppliers of covered goods and services to display regular and promotional prices. If both prices are not visible, the statutory discount applies to the displayed price; the lower sale or promotional price receives a 15% discount. Articles 3 and 4 provide for priority service at public service institutions and companies through designated areas or counters. They also specify documents proving beneficiary status, including a permanent resident card issued by the Electoral Tribunal (Tribunal Electoral).
Article 5 assigns the Consumer Protection and Competition Defense Authority (Autoridad de Protección al Consumidor y Defensa de la Competencia, ACODECO) responsibility for monitoring compliance, resolving complaints and requiring establishments to display the discounts. It establishes graduated fines based on the violation and the business’s characteristics, and doubles the previous fine for each repeat violation. Fine proceeds are divided equally between the Special Fund for Retirees and Pensioners and the Permanent Benefits Program for Retirees and Pensioners of the Social Security Fund (Caja de Seguro Social), established under Law 438.
Articles 6 and 7 treat discounts and concessions as a transferable income tax credit for taxpayers filing income tax returns from January 1, 2027. They provide for budgetary resources and repayment of amounts invoiced by microentrepreneurs within one (1) to three (3) months after submission. Article 8 creates the Microenterprise Support Program Fund and provides for an administration and payment trust. The Authority for Micro, Small and Medium Enterprises (AMPYME) would administer and oversee the fund and regulate its eligibility and disbursement requirements in coordination with the Ministry of Economy and Finance (Ministerio de Economía y Finanzas) and the Office of the Comptroller General (Contraloría General de la República). Articles 9 to 11 set the commencement date, declare the measure to be of social interest, and specify the amendments, additions and repeals affecting Law 6 of June 16, 1987. The proposal concerns consumer protection, public finance and enterprise support bodies, as well as retailers, health providers, utilities, telecommunications, financial and funeral services, and organizations of older adults.
What it proposes.
- Benefits and discounts for retirees, pensioners and older adults.
- Price display, priority service and enforcement of discounts.
- A tax credit and compensation for microenterprises providing benefits.
Who it would affect.
- Panamanian citizens and permanent residents meeting the stated ages, and all retirees and pensioners.
- Public and private institutions and companies offering covered goods or services.
- Microenterprises providing discounts and taxpayers eligible for the tax credit.
- Associations, federations and confederations of retirees and pensioners.
Key points.
- Expands discounts for food, health care, assistance equipment, housing, services, administrative procedures and other beneficiary expenses.Art. 1
- Requires regular and promotional prices to be displayed and specifies the discount when both are not visible.Art. 2
- Provides priority service and specifies the documents used to prove beneficiary status.Arts. 3-4
- Assigns ACODECO monitoring and complaint resolution duties, establishes graduated fines and divides their proceeds between two retiree and pensioner programs.Art. 5
- Recognizes a transferable tax credit for discounts and provides for funding and repayment of amounts invoiced by microentrepreneurs.Arts. 6-7
- Creates the Microenterprise Support Program Fund through a trust and assigns administration, oversight and rulemaking duties.Art. 8
- Sets commencement, declares the measure to be of social interest and lists the provisions of Law 6 of June 16, 1987 to be amended, added or repealed.Arts. 9-11