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I've been told that there's a long discussion about the discount complete with some misinformation on the other forum. Since I'm banned from that forum I can't verify it for myself. However, just to clear up some misunderstandings that folks seem to have. You are entitled to the discount if both of these apply:

A. You are a legal permanent resident of Panama (not a tourist who has to leave every six months)

                                 and

B. You either have attained the appropriate age (I believe 55 for women and 60 for men)

                                   or

You have a pensionado visa which you can obtain as young as 18 if you meet the requirements of a permanent income of $1000/month or more.

Just being old and in Panama doesn't cut it. Some places are lax about asking for proof but that still doesn't mean you're legally entitled to the discount.

Another misconception -- the government of Panama doesn't reimburse a business for the discount. Of course if you discount a $10 meal to $7.50 you only have to pay income tax on the $7.50 that was received.  Also, a business in Panama doesn't have to pay income tax or charge sales tax until their gross proceeds are $30,000/year or more.

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1 hour ago, Penny said:

You have a pensionado visa which you can obtain as young as 18 if you meet the requirements of a permanent income of $1000/month or more.

Another misconception -- the government of Panama doesn't reimburse a business for the discount. Of course if you discount a $10 meal to $7.50 you only have to pay income tax on the $7.50 that was received.  Also, a business in Panama doesn't have to pay income tax or charge sales tax until their gross proceeds are $30,000/year or more.

Ok.

Let's go to the semantics in spanish language.   Jubilado refers to a person that have reached an age for retirement and has paid all the number of payments stated to be granted for retirement money.     Pensionado refers to a person of any age that by any kind of health or mental illness cant work and is receiving from Social Security money to support them.  Some people used both words as synonyms but they are a little bit different.  The only thing is that both receive "pensions" or money by Social Security.

Panama's government will not reimburse any business for the discount.  What you can do is to take the $2.50 you gave as discount and declare it as a deductible cost in your income tax return.  

REgarding Income tax a person who is receiving a salary of $800 or less do not have to pay income taxes.

 

Edited by Roger B
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14 hours ago, Bonnie said:

You can still access the other forum after being banned. You just can't participate. And there's lots more misinformation there than just about the jubilado discount.

Not true Bonnie. Here's what I get when I bring up NING:

Suspended.jpg

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I am still - Not banned - but I know I will be soon.   Disident voices are not allowed.  Specially when they spread biased information and hearsays and assumptions and not facts. Now that our friend Wryawry is working on a new account as "La Gata"  I am thinking in using an inspiring account like "Perico Feliz" to make company to "La Gata"

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Oh could I come also?  Please, please.  I will be "La loca de Chailot" since my last interactions there looked like I was a crazy woman venting out her anger on innocent Olga Suarez and she had done nothing to provoke me.  Never mind hacking my email account to name one of many.  Email me if you want the juicy stuff.   It really looks like it came out of a horror film.   It would be a most entertaining story free of charge.  However I think it would be a best-seller only if written by Wryawry better than me.  But really I am much happier here in this site.   I feel much more peaceful here, but then I open the other site to take a peak when I have nothing to do, and then I poison my blood back again.  We Latin woman have a bit of masochism in our veins.  Have you seen the latest discussions who is considered an "expert".  She actually thinks she is the right person to bring up that subject and she does not even live here.   I can not believe we humans can be so stupid to engage on a discussion with someone that does not even live here.  TRUST ME I HAVE PROOF WRITTEN BY HERSELF ON AN EMAIL SAYING SHE DOES NOT LIVE HERE AND HER ADDRESS I THE US.   However, she is coming on May.  Be careful, she is mad!   That crazy Hunter guy is trying to get us together with him to talk.  Ha ha ha.  He had the chance to stop the problem before it got out of hand and I told him so, in two different emails, and he did nothing.  And it got out of hand, so out of hand that they deleted the postings because it made them look soooooooo bad.  So why now?  I have no desire to go back.  As far as I know, most of what would be valuable posts from her, are regurgitating news from local newspapers in Panama.  Oh, I better stop, don't get me started on her!    

Edited by Marcela
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