Colón Free Port Rejects Fiscal Modifications
Members of the Association of Users of the Colón Free Port (ZLC) say the tax tweaks will increase operating costs.
Wednesday, August 12, 2009
Giovanni Ferrari, president of the Association, remarked that the new taxes could be dangerous for the stability of several ZLC companies.
Businessmen from Colón Free Zone (ZLC) will negotiate an eventual tax hike with the government.
The trade agreements signed by Panama with several nations could serve as a platform for new business for the CFZ.
The Panamanian Association of Business Executives is calling for the suspension of the enforcement of the effects of the provision, pending gaining the necessary consensus.
In February 2009, imports and re-exports totaled $1.143 billion or 11.6% less than in February 2008.
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