Vice Minister of Finance Fausto Fernández stated that revenues from the Transfer Tax on Movable Goods and Services (ITBMS) increased from an average monthly figure of 69 million dollars to 93 million in October, highlighting the positive impact of the Tax Lottery on strengthening tax collection. Fernández noted that before the launch of the initiative, monthly ITBMS revenues averaged 69 million dollars. "This is an important management and tax culture achievement," he stated. The Vice Minister announced that the next draw will take place in December, where it is expected to exceed one and a half million participating envelopes, reflecting the growing citizen interest in supporting transparency and strengthening the country's finances. With this initiative, the Ministry of Economy and Finance (MEF) reaffirms its commitment to a more efficient, responsible, and transparent revenue collection, contributing to a stronger and more sustainable Panamanian economy. These statements were made by Vice Minister Fausto Fernández during an interview with a local medium. In the second draw, held at the end of October, participation multiplied to exceed one million envelopes, equivalent to more than five million registered invoices. Fernández emphasized that this increase demonstrates that Panamanians have responded positively to the incentive to participate by requesting their invoice and thus contributing to fiscal control and tax transparency. "The data shows that consumption has not decreased, but now purchases are being reported correctly."
