Colón Free Port Rejects Fiscal Modifications

Members of the Association of Users of the Colón Free Port (ZLC) say the tax tweaks will increase operating costs.

Wednesday, August 12, 2009

Giovanni Ferrari, president of the Association, remarked that the new taxes could be dangerous for the stability of several ZLC companies.

Newspaper Prensa published more comments by Ferrari: "ZLC users have strongly opposed the measure. There is a lot of negative stuff going on at ZLC, and they cannot afford these tax increases".

More on this topic

Colon Free Zone and FTAs

November 2013

The trade agreements signed by Panama with several nations could serve as a platform for new business for the CFZ.

The CFZ wants make a u turn in the way it does business but to do so it must make adjustments so that it not only receives goods but also gives them an added value.

Businessmen Request Halting ZLC Land Sale Law

October 2012

The Panamanian Association of Business Executives is calling for the suspension of the enforcement of the effects of the provision, pending gaining the necessary consensus.

A statement by the Panamanian Association of Business Executives (APEDE) reads:

APEDE requests suspension of effects of Law No. 72 of 2012

Colón Free Zone and Government Negotiate Taxes

September 2009

Businessmen from Colón Free Zone (ZLC) will negotiate an eventual tax hike with the government.

Free Zone entrepreneurs had scheduled a protest for today, rejecting the tax increase law project.

"Sources from the Association of Users of the ZLC state that the protest was canceled after receiving a phone call from Ricardo Martinelli", reported Americaeconomica.com.

Activity Falls by 11.6% in Colon Free Zone

March 2009

In February 2009, imports and re-exports totaled $1.143 billion or 11.6% less than in February 2008.

Surse Pierpoint, vice president of the Association of Colón Free Zone Users, told prensa.com that: "There seems to be a trend, a cooling in the commercial movement of the markets we serve," and under normal conditions this would "be worrisome.

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