Law that encourages tourism investment in Panama being development
The Minister of Tourism, Ruben Blades, indicated that they are working on a "law to facilitate tourism investment."
Thursday, September 11, 2008
He said that it is not a modification of Law 8 from 1994 which offers tax incentives for tourism investment.
Legislators and the tourism sector are promoting the adoption of regulations for this activity that could bring more foreign exchange.
The transition of the Comisión Nacional de Valores (National Securities Commission) to the new entity has been affected by administrative and legal difficulties which are causing confusion.
The General Directorate of Taxation is preparing regulations to govern the sales prices of goods and services between companies considered as related to each other.
From March new requirements imposed by the Food and Drug Administration will be implemented progressively on food imported by the United States.
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