The tax reform being discussed includes important modifications to property taxes.
Currently, this tax can be paid in three payments, but with the new regulation, it must be done in one lump sum.
"The alternative fee would be 1% over the taxable base (the value of the land plus built improvements)", reports Prensa.com. "With these modifications, the owner of a $55.000 house paying a preferential fee of $185 a year would have to disburse $250".
The value of construction, repair, and extension permits approved during the first half of the year was at $829.8 million.
Most of the investments are located in the district of Panama, with $675 million (58.5% more than the year before); this is followed by Arraijan, which, with $44 million, had the biggest increase in the country (161.3%).
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