Guatemala Reviews Textile Incentives
The review aims at identifying companies taking advantage of exemptions without developing its work within that framework.
Thursday, March 3, 2011
President Alvaro Colom said reforms under study would not affect businesses complying with regulations, but "... only those taking inadequate advantage of the exemption ...".
Panama's textile industry association has asked the government to provide tax incentives in order to maintain production levels.
Efforts are growing to minimize the impact of the possible signing of the Trans-Pacific Partnership Agreement, and a tariff reduction program with long deadlines for sensitive products has been proposed.
The Ministry of Tourism is discussing with private companies and a group of consultants draft amendments to the existing Law on Tourism.
Representatives of the Government of Nicaragua have made assurances that the tax reform will not affect the incentives announced in the FTZs.
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