Incentives for Panamanian Industry

A law project being developed by MICI includes tax breaks in exchange for industrial investment.

Tuesday, September 22, 2009

This law could be ready in sixty days, explained Roberto Henríquez, head of the Commerce and Industry Minister (MICI).

An article in details the incentives being proposed: "...industrialists will obtain tax benefits in exchange for research and development projects, ... implementing better environmental practices and reinvesting profits in new machinery, ... and training their human resources".

More on this topic

WTO Extends Incentives to Panamanian Industries

March 2009

The export subsidy incentives for Panamanian companies, which would have expired in 2009, were extended until 2015.

The incentives for the Official Registry of Panamanian Industry were extended until 2015 by the World Trade Organization, which attracts business investment.

Industry Promotion Law in Panama

October 2009

Domestic industry has been shrinking in the past years, and now accounts for just 5% of the GDP.

A recent law, endorsed by the Executive, creates the Industrial Promotion Certificates, known as CFI.

"Industrial companies expect the sector to resurge to 1980's levels. Its hopes are centered on these Certificates, which will give back to the companies 25% to 35% of what they invest in areas such as research and development; quality and administration systems; profit investment and reinvestment; and training".

Panama Withdraws Exports Subsidy

October 2009

The Government won't renew an export subsidy known as CAT ("Certificados de Abono Tributario").

Within the recently approved law for Industry Promotion, a non-transferable fiscal bonus was included as a CAT substitute, explained Roberto Henríquez, Commerce and Industry Minister.

Panama Approves Industry Promotion Law

October 2009

The presidential cabinet approved a law project to foster and develop national industry.

With the law, incentives will be awarded to companies through certificates of industrial promotion, or CFI in Spanish.

"Agro-industrial companies investing in expanding their production will be entitled to a 35% refund of any disbursements made in said activities. Other industries will be entitled to 25%", reports

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