In Panama, a bill that establishes exemptions for those natural and legal persons specialized in the operation of industrial recycling plants was approved in the third debate.
The purpose of this new regulatory framework is to stimulate with environmental tax benefits the establishment of recycling companies, which do not exist in Panama, seen as an ideal process to end the problem of garbage accumulation in the country, informed the National Assembly.
In Honduras, a law reform was approved that simplifies the procedures that local and foreign companies must follow to take advantage of the Free Zone Law and extends for 15 more years the benefits that it grants to the companies of the regime.
From the National Congress of Honduras' statement:
The law was more than 44 years old and needed to be updated to make Honduras competitive
By approving the changes to the Special Law for Exploration and Exploitation of Hydrocarbons, the country's oil sector contractors are exonerated from all taxes.
The amendments stipulate that transfers of agreed contracts shall not pay taxes during the exploration period, and the direct or indirect assignment or transfer of all or part of the rights derived under any modality for the activity of exploration and exploitation of hydrocarbons shall be exempt from any capital gains tax.
In Costa Rica, the law on incentives to import these types of vehicles has been in force for six months, but agencies are not able to take advantage of the exoneration because the Treasury has not yet adapted its customs computer system.
Although the "Law of Incentives and Promotion for Electric Transport" came into force six months ago, distributors are still facing obstacles to complete the importation processes under the new tax benefits scheme.
A proposal has been made to create a special economic zone in 26 municipalities in the southeast of the country, which would provide tax incentives for activities related to clean energy and the prospecting of natural gas and oil.
The Executive presented to the Legislative Assembly a preliminary draft of the Law on the Special Economic Zone of the Southeast Region of El Salvador, which has the objective of developing 26 municipalities of Usulután, San Miguel and La Unión.
The regulation that grants tax benefits on imports of electric cars has come into force in Costa Rica, and according to agencies it will help final prices to fall between $5 thousand and $10 thousand per unit.
The regulation that will allow the entry into force of the law was published in La Gaceta, and will enable electric vehicles that have been held in Costa Rican customs offices to be released.
Distributors of electric cars in Costa Rica estimate that with the entry into force of the law, prices of these vehicles could fall by between $5 thousand and $10 thousand.
According to vehicle distributors, with the implementation of the "Law on Incentives and Promotion of Electric Transportation" that was approved bythe Legislative Assembly last monthand which was signed by President Solís on January 25, prices of electric vehicles could come down by between $5 thousand and $10 thousand.
With the law approved by the Legislative Assembly of Costa Rica, electric vehicles are exempt from the general sales tax, the selective consumption tax and the customs value tax.
Finally, the Legislative Assembly has approved, in a second debate, the Law on incentives and promotion of electric transport, which aims to encourage the purchase of these types of cars in the country.
The bill which the Legislative Assembly approved in a first debate establishes tax exemptions for imports of electric vehicles and authorizes the replacement of the vehicle fleet belonging to State entities.
Nacion.com reports that "...Specifically, the bill authorizes the State not to charge taxes on fully electric vehicles costing less than $30,000 (¢17.4 million)."
In Nicaragua, the Ortega administration is proposing to extend tax benefits for energy generation projects using renewable sources for another five years.
Continuing with the strategy of promoting energy generated from renewable sources, the government is proposing extending tax incentives for these types of projects, as it did in June 2015.At that time, the benefits were extended until January 2018.
The law sanctioned by President Varela provides tax incentives such as exemption from income tax, real estate tax and introductory tax, among other things.
From a statement issued by the Presidency:
President Juan Carlos Varela today ratified his administration's commitment to the environment by sanctioning a law that creates an incentive program for forest cover and conservation of natural forests, in order to consolidate the Alliance for the Million Hectares Reforested and achieve the Sustainable Development Goals 2030. This norm, said the Governor, is an example of how a new country can be built by working together, where dialogue and peace prevail as fundamental tools for healthy coexistence and sustainable development.
Agribusiness entrepreneurs in Panama claim that the procedures for obtaining fiscal benefits for production and export can take up to 2 years.
Two of the incentives most sought after by entrepreneurs are the Certificate of Promotion of Agroexportation (CEFA) and the Certificate of Promotion of Productivity (CFP), which recognize, and can therefore be deducted from the payment of income tax, expenses related to wrapping, packaging, and internal freight of the product.According to the Panamanian Association of Nontraditional Agroexportadores (Gantrap), the complete process to obtain these can take up to two years.
The government plans to grant exemptions and other tax incentives to banks that finance investment projects in the Colón Puerto Libre commercial zone.
The objective of the Ministry of Commerce and Industries is to facilitate commercial investments in Colón Puerto Libre, through the exemption of several taxes, for banks that grant loans to companies interested in settling in the duty-free zone.
The exemption of the payment of several taxes for a term of up to 15 years is one of the benefits granted by the new tourism law approved by the Honduran Congress.
Among theincentivesincluded in the bill recently approved by the Congress of Honduras is a decrease in the payment of income tax, elimination of import taxes and"... taxes on the sale of land for hotel construction."
A bill being prepared by the government proposes granting tax exemptions and other incentives on investments made in hotel infrastructure and other activities in the tourism sector.
Among the incentives included in the bill are a decrease in the payment of income tax, elimination of import taxes and"... charges on the sale of land for hotel construction."