Taxes are ALWAYS Transferred to the ConsumerAlthough the government is threatening to cancel concessions, aggregate traders have raised their prices by up to 17% in opposition to the tax on the extraction of construction materials in Panama.Wednesday, May 20, 2015
Fourteen days after the start of collections of the tax on extraction of materials, increases of up to 17% have been recorded in final consumer prices in some retail outlets. The law prohibits the transfer the tax to the final price, but builders say that "... it is very difficult to control because it is an operating cost" in the case of housing prices and other real estate projects. Source: Panamaamerica.com.pa ¿Busca soluciones de inteligencia comercial para su empresa?¿Necesita información detallada sobre su sector de negocio?Solicite más información: Need assistance? Contact us
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Guatemala: Cost of Extracting Material Goes UpJanuary 2017 From January 10 there will be a rise in the fees for operating licenses for extracting construction materials, precious stones and semiprecious stones and other materials. Panama: More Taxes on Building MaterialsApril 2015 In order to pay for the increase in pension payments, an increase has been made to taxes on extraction of aggregates, which represents an increase of 12 to 25% in the price of housing. Taxes on Sand Mining in PanamaOctober 2014 An announcement has been made that there will be a review on the structure of taxes charged to businesses engaged in sand mining in the district Capira province of Panama.
Panama Extracts Underwater sandMay 2011 The Panamanian government awarded two concessions to private companies to explore and extract the material.
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