Panamanian businessmen could face fines of up to 100 thousand dollars if they do not provide the information required by the Social Security Fund (CSS), according to the proposed reforms to Law 51 of 2005. These modifications aim to reinforce the financial stability of the CSS amid the crisis it is experiencing.
Among the proposed amendments is the imposition of fines on employers who fail to meet their legal obligations. For example, it is established that businessmen who refuse to provide information to the CSS could be sanctioned with a fine ranging from 20 thousand to 100 thousand dollars, with the aim of ensuring that the institution has access to the necessary data to verify compliance in the payment of contributions and prevent tax evasion.
The director of the CSS, Dino Mon, has highlighted the importance of these reforms to ensure the financing of the system and protect the future of the entity. Furthermore, in cases where evidence of crimes is detected, it is contemplated that the CSS will file complaints with the Public Prosecutor's Office.
Other monetary modifications include fines ranging from 100 to 5,000 dollars for employers who do not enroll or affiliate their employees, as well as sanctions of 1,000 to 50,000 dollars for those who make false statements or underreport salaries on their payrolls to reduce contributions to the CSS. Fines of up to 50,000 dollars are also established for violations related to the evasion of payment obligations with the CSS.
With this new legal framework, the aim is not only to tighten penalties but also to establish rigorous criteria for evaluating each case, considering aspects such as the economic effects of the infringement, recidivism, and the number of affected employees. The CSS will work together with other entities to regulate sanction procedures, ensuring a fair and consistent application.
Experts point out that these reforms reflect the government's and the National Assembly's commitment to ensuring a transparent, efficient, and sustainable social security system for the benefit of all Panamanian workers and employers.
