Article 764. The following properties are exempt from this tax:
1.-Those of the State, of the Municipalities and of the Associations of Municipalities;
2.-Those of the autonomous or semi-autonomous institutions of the State, subject to their own legal provisions;
3.- Those destined or destined to the cults permitted by the State, the conciliar seminaries and episcopal houses and those destined or destined exclusively to religious-social acts with non-profit purposes;
4.-Those destined or destined to public charity or social assistance, without any profit purpose;
5.-Those used for private schools of primary, secondary or university education provided that their owners are obliged, by means of a contract with the Ministry of Education, to maintain no less than five nor more than twenty-five permanent scholarships for poor Panamanian students, in the opinion of the Executive, according to the category and possibility of the establishment. Each scholarship will include tuition, teaching, and supplies;
6.- Those used for private hospitals, provided that their owners undertake, by means of a contract with the Ministry of the Health Branch, to attend to any sick person in case of emergency and to give free hospitalization to twenty-five poor Panamanian patients each year;
7.- Those exempt from this tax in accordance with International Treaties or Conventions in which the Republic has been or is a contracting party or in accordance with contracts authorized or approved by Law;
8.-Those that constitute the Family Patrimony, in accordance with the Law;
9.-Real estate whose taxable base, including improvements, does not exceed twenty thousand balboas (B / .20,000.00) as of January 1, 1996. Paragraph: All delinquencies are forgiven for this tax on all properties that By virtue of what is established in this paragraph, they are exempt from it. This provision will only apply to the tax debt caused and not paid, therefore, the amount paid for the tax caused prior to the effective date of this provision cannot be repeated.
10 .- [Surrogate]
11.- “estates for housing whose cadastral value does not exceed five thousand balboas (B / .5,000.00), provided that the declaration of respective improvements is rendered from January 1, 1961 onwards.
Said exemption is valid for a period of five (5) years counted from the date of declaration of the respective improvements ”.
Paragraph 1: Natural or legal persons who wish to avail themselves of this exemption must meet the following requirements:
a) Raise a memorial to the General Manager of Internal Revenue requesting said exoneration;
b) Accompany the application with a certificate from the Municipal Engineer stating the permit to build and the initial date of construction;
c) A certificate from the Property Registry stating the date of registration of the improvement;
d) Any other document that the General Administrator of Internal Revenue deems essential.