Howard Zone Maintains Tariff Exemptions

The National Assembly of Panama approved the extension of tariff exemptions to companies based in the Howard Free Trade Zone.

Tuesday, June 9, 2009

The bill, which was approved in the second debate, ensures that companies that are based in the Panama Pacific Special Economic Area, also known as the Howard Free Zone, will equally have access to the benefits.

According to Pa-digital.com.pa, "The subsidy that the state of Panama grants this area is maintained for five more years."

More on this topic

Update to Incentive Law for Panama Pacific

January 2015

A law has been approved which updates the tax treatment of high-value services and movement of goods from the free zone in Panama Pacific to other countries.

From a statement issued by the National Assembly of Panama:

The full National Assembly approved on its third reading Bill 118, which amends Article 41 of the Law of 20 July 2004 on the Panama-Pacific Area and adds Article 91-A.

Municipal Taxes for Colon Free Zone

February 2014

The Colon City Council has repealed a 1953 rule which exempted companies that provide services in the CFZ from paying taxes.

Colon City Council passed a bill that repeals another approved in 1953 that exempts from tax services performed by companies in the Colon Free Zone (CFZ). Companies that offer services such as banks, law firms, messaging, restaurants, cleaning, consultancy and others, will be obliged to pay taxes.

Progress and Challenges in Panama Pacific

July 2013

In the special economic area at ​​the former Howard Air Base there are now 164 companies operating in different sectors with investment so far totalling $270 million.

Capital.com.pa reports: "Some 164 companies are operating in the Panama Pacifico. 30% of them are in the services and retail stores sector, 18% are in the maritime industry, 15% are logistics companies, 13% are high value-added industries and the remaining percentage corresponds to other economic activities. "

Panama Pacific Project begins construction

November 2008

Construction of the first phase of the $70 million Howard, Panama-Pacific Project starts tomorrow.

London & Regional Panama, master developer of the Panama-Pacific Special Economic Area, will hold the official innaguration for construction start up.

The ceremony will be held on Thursday, November 13, 2008 at the former Howard Base.

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