Tax Modifications for Colón Free Port
Users of the Panamanian Colón Free Port (ZLC), will have to pay, as rent, 1% of the market value of their properties.
Tuesday, August 11, 2009
The adjustment also implies that "all the services, including third party rents from ZLC users, will pay ITBMS (Transference of Goods and Services Tax)", reported a press release by the Ministry of Economy and Finance.
In Costa Rica, the Association of Free Zones and Investment promoter CINDE are lobbying against the imposition of new taxes on businesses.
The Colón free-trade area (ZLC in Spanish) will be expanded to include a further 280 hectares in the region of Coco Solo.
The Minister of Commerce and Industry said that although Colombia is maintaining its excess tariffs on the CFZ, the FTA between the two countries is moving ahead.
Commercial movement grew 50% in November.
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