Tax Incentives for the Tourism Sector

In Panama, a law was approved that will grant tax incentives until 2025 to businessmen who invest in hotels and recreational activities.

Friday, February 8, 2019

Between the most important incentives that contemplates the law project 696 that was approved in third debate, it emphasizes the exoneration of the tax of material import, for the constructions of accommodations or inns for the tourism made in the interior of the country.

Hector Golcher, president of the Association of Small Hotels of Panama said to Elcapitalfinanciero.com that tax benefits are fundamental "... for the construction of establishments for tourism, because 'in all provinces there are small hotels that have invested in accommodations of 50 to 100 rooms, therefore it is important to open this opportunity for Panamanian businessmen."

You may be interested in "Central America: $766 million in Tourism Projects"

From the National Assembly press release:

The tourism sector will get tax incentives until 2025 as a result of legislation passed in the third debate in the National Assembly designed to promote a competitive offer for investors in hotels and recreation activities.

Read full press release (In Spanish).



More on this topic

Tax Incentives for the Tourism Sector

January 2020

In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.

On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.

Honduras: Incentives for Investment in Tourism

July 2017

Between August and September a new law could be approved that would grant exemptions and other incentives to investments in hotel infrastructure and other tourist activities.

The tourism incentives bill was presented by President Hernández to the National Congress, which expects to complete the approval process no later than September. If approved, the new law would grant various tax benefits and incentives to investors developing tourism projects. 

New Tourism Law in Panama

November 2012

The Panamanian National Assembly has given final approval to Act 481 which includes incentives for the promotion of tourism.

Tourism businesses welcomed the new rule, but complained that no provision has been made in establishing incentives for small tourism businesses.

An article by Alex E. V. Hernandez in Prensa.com review some of the main provisions of Act 481:

Small Hotels to Enjoy Tax Exemptions

June 2012

The amount of minimum investment required in the Tourism bill in order to be able to access tax incentives in Panama will be reduced to $250 thousand.

The Tourism Authority of Panama (ATP) has agreed to reduce from one million dollars to $250,000 the minimum amount of investment required to obtain tax incentives when building a hotel outside the district of Panama.

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