Colón Free Port Rents could Rise

$1 a month per square meter is charged today for space in the free port known as ZLC, but the government of Panama wants to raise the price.

Wednesday, July 29, 2009

The government wants rents in the ZLC to match market prices, "for these companies to make a larger contribution to the National Treasury".

"In a meeting held with users of the free port, Dulcidio De La Guardia, finance vice minister, said the businessmen are willing to find formulas to increase their tax contribution", reported

More on this topic

Rentals in the Colon Free Zone

October 2012

After repealing the law allowing the sale of land, the government is intending to put up rental prices.

"Yes, the rents are going to be raised, we said that from day one," said the Minister of Economy and Finance, Frank De Lima, whose aims is that users of the free zone will contribute the more than $27 million per year that are currently paid, towards improvement plans in the province.

CFZ Establishes Maximum for Rent Increases

October 2012

Users of the Colon Free Zone in Panama are no longer required to purchase the lot which they currently lease and if they choose to continue renting the amount charged in the first five years can not exceed 10% per year of what they currently pay.

At the end of the first five years, rents can be updated every two years according to the consumer price index, indicated the Zone's Users Association (AU in Spanish).

ZLC Businesses: Buy or the Rent Goes Up

March 2012

Even though last year the rents paid by users of the Colon Free Zone (ZLC in Spanish) rose by 20%, President Martinelli has said that they pay very little in relation to their earnings.

If the sale of the lots in the ZLC does not go well, the alternative being studied by the government is to raise the rents.

ZLC Users Oppose Fiscal Reform

July 2009

Users of the Colón Free Port (ZLC) in Panama consider the proposed tax reform would "have dire consequences".

Alberto Vallarino, Finance and Economics minister, said in regard to what they would pay: "its nothing, compared to their earnings".

"We are in talks with ZLC users. They don't want us to tax them, they don't want income declarations, but we need the money from this taxes", said the minister in a article.

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