Law that encourages tourism investment in Panama being development

The Minister of Tourism, Ruben Blades, indicated that they are working on a "law to facilitate tourism investment."

Thursday, September 11, 2008

He said that it is not a modification of Law 8 from 1994 which offers tax incentives for tourism investment.
On the other hand, the Panama Tourism Authority (ATP) is working on the regulations for the Tourism Law and includes such things as determining what is the fine or punishment for violating said law, Blades said. These declarations were made during the VIII Annual Tourism Forum of the American Chamber of Commerce yesterday at the Sheraton Hotel.

More on this topic

Costa Rica: Preparing for Transfer Pricing Rules

June 2013

The General Directorate of Taxation is preparing regulations to govern the sales prices of goods and services between companies considered as related to each other.

This regulation is currently under review by the legal department of the Ministry of Finance. The aim is to have it in force before the end of the current administration, said Carlos Vargas, CEO of Taxation.

The Superintendency of Securities in Panama

May 2012

The transition of the Comisión Nacional de Valores (National Securities Commission) to the new entity has been affected by administrative and legal difficulties which are causing confusion.

The process is suffering from legal and administrative complications in the absence of a regulation in the new law regulating the securities market, which has led to administrators not making decisions nor responding to consultations, among other problems.

Changes in U.S. Export Requirements

February 2012

From March new requirements imposed by the Food and Drug Administration will be implemented progressively on food imported by the United States.

The U.S. Food and Drug Administration (FDA) will begin to implement requirements for a new Food Safety Law relating to products exported to the country from March.

Standards for Medical Tourism in Panama

February 2012

Legislators and the tourism sector are promoting the adoption of regulations for this activity that could bring more foreign exchange.

Medical or health tourism is an activity that is already practiced in Panama, however, there is no regulation or duly established legal framework to regulate it.

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