New Law Extends Retiree Discounts in Panama

President of the Republic, José Raúl Mulino, said that Bill 746 will offer new discounts in Panama for retirees, pensioners, and senior citizens. Here are the people who can benefit from these discounts:

Panamanians: Women aged 55 and older; men aged 60 and older.

Foreigners with permanent residence: Women aged 57 and older; men aged 62 and older.

All retirees and pensioners: Regardless of age.

Eligibility will be validated by presenting a personal identification card, a retiree/pensioner card, or a permanent resident card issued by the Electoral Court.

To support the private sector, the regulations specify that all discounts and concessions granted will be fully deductible from the taxpayer’s income tax when filing their annual return.

new discounts for Retirees in Panama

Telecommunications and Basic Services

30% discount on the fixed charge for residential telephone service (applies to one number under a residential contract in the beneficiary’s name).

20% discount for mobile phone service (contract in the beneficiary’s name, one number only, with a contract amount not exceeding $30.00).

20% discount on internet and/or cable television service (contract in the beneficiary’s name for their primary residence, with a contract amount not exceeding $50.00; excess charged at the normal rate).

20% discount on sanitation fees (contract in the beneficiary’s name for residential service at their main residence; normal rates apply to the excess).

Health, Cancer Treatments, and Examinations

30% discount on procedures, interventions, and therapies for cancer treatment, including oncological medicines, pharmaceutical support agents, supplies, and assistance equipment for cancer patients.

30% discount on all radiology services.

25% discount on fees for general medical consultations and specialized medical services.

20% discount on the price of medications (upon presentation of a medical prescription, excluding over-the-counter medications).

20% discount on laboratory tests.

15% discount on all optometry and ophthalmology services.

Exemption from Import Tax and ITBMS on hydrocolloid patches, colostomy bags and rings, urinary catheters, and creams with a medical prescription from a qualified specialist (cosmetic items are excluded).

Assistance, Mobility, and Care

20% discount on goods, assistance equipment, and technical aids, including prostheses, wheelchairs, crutches, canes, walkers, seated rollers, portable toilets, bath chairs, hospital beds, anti-decubitus or specialized mattresses, and other mobility or comprehensive care devices.

20% discount on adult diapers.

20% discount on rental, repair, and maintenance services for assistive and mobility equipment (wheelchairs, hospital beds, oxygen concentrators, respiratory assistance, etc.). Appropriate medical certification is required.

15% discount on the purchase of items for basic home modifications (ramps, grab bars, handrails, non-slip surfaces, and bathroom adaptations). Requires a medical prescription or functional evaluation. General renovations or additions are not covered.

Food, Paperwork, and Funeral Services

25% discount on individual consumption value in food outlets, restaurants, and national and international franchises (excluding those considered fondas).

25% discount on the purchase of coffins and urns, as well as on funeral services contracted when the deceased is a retiree, pensioner, or elderly individual.

20% discount on the fixed charge for notary expenses in procedures directly linked to housing under the preferential interest regime for the elderly.

20% discount on the fixed charge for registration expenses in housing procedures under the preferential interest regime.

Furthermore, properties owned by legally constituted associations, federations, and confederations of retirees and pensioners will enjoy the same benefits regarding electricity, water, telephone, internet, cable television, post office box, valuation tax, property tax, and other benefits available to NGOs.