An agreement between the government and the indigenous community in the area would end a conflict that caused losses of more than $20 million to the concessionaire.
From a statement issued by the Presidency of Panama:
The signing of an agreement on the incompatibility of the hydroelectric project Barro Blanco highlights how the government of President Juan Carlos Varela has dealt with the challenges of Ngäbe Bugle: instead of confrontation and the characteristic abandonment of past administrations, [there has been] a policy of dialogue and a strong public investment plan.
Lack of a "country agreement to escape the vicious circle of lack of growth, investment and employment, and excessive bureaucracy" continues to affect the business climate.
From a report on the Legal and Institutional Situation by the Salvadoran Foundation for Economic and Social Development:
The report is divided into 3 chapters, in which an analysis is undertaken of the most important issues that occurred during the semester relating to the rule of law, transparency, security and the business climate.Among the most noteworthy findings, the following are mentioned:
From January 1, 2017 the agreement ratified between both parties to avoid double taxation of income and assets will come into effect.
From a statement issued by the Ministry of Foreign Affairs in Costa Rica:
On Wednesday August 10 at the headquarters of the Federal Ministry of Foreign Affairs in Germany, a ceremony was held to exchange instruments of ratification of the agreement between Costa Rica and Germany to avoid double taxation on income and on assets.
Following the authorization granted to TCQ by the Superintendency of Tax Administration to function as a temporary customs warehouse, its entry into operations for October has been announced.
Anarticle in Prensalibre.comreports that"...The auditor of the TCQ, Alexander Aizenstatd said that with the authorization published in Diario de Centro América on Friday, an intermediate stage has started where there a link is formed with the authorities of the SAT, in order to subsequently ask for the entry into operation.'Closer ties have now been made with the National Port Commission for certification and following this a certification will be requested for the Marina.The plan is for the TCQ to be operational at the end of September, or beginning of October. ' "
On August 15 pre-qualification documents will be received in Honduras for the project involving property registration, vehicle inspections, supply of number plates, driving licenses, traffic violations and fine collections.
From a statement issued by the Commission for the Promotion of Public Private Partnership (COALIANZA):
On August 15, the Commission for the Promotion of Public Private Partnerships (COALIANZA) will be receiving pre-qualification documents for the Project on Operations, Finance and Administration of the Registry for Vehicular Property, at the national level, and Implementation of Vehicle Inspection Centers, Supply of Number Plates, Driving Licenses, Modernization of the Penalties System for Traffic Violations and Modernization of Fine Collection.
Lack of control of unofficial businesses that are setting up on the coasts is preventing further development in areas with high tourism potential such as San Juan del Sur.
The business community argues that the Law for the Development of Coastal and Environmental Conservation is not being complied with, as unofficial businesses such as restaurants and hotels are being allowed to set upon the coasts.
Conflicts over land use and environmental legal actions have kept fourteen hydroelectric power generation projects paralyzed.
Of the fourteen hydroelectric projects on hold, according to the Association of Renewable Energy Generators (Ager), six were suspended for having been declared unconstitutional, two are in the "dialogue process", one is waiting for a ruling from the Constitutional Court and another " ...
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Transfer pricing and double taxation are two of the topics covered in three bills to reform regulations which the Ministry of Finance has put to public consultation.
One of the proposals is the bill on "Informational declaration of transfer pricing".Crhoy.com explains that"...This empowers the tax authorities to check that transactions between related parties are valued at prices similar to those that would be agreed between independent parties in comparable transactions. "
The additional charge of 13%, considered by the business sector to be a disguised tax, has been suspended by the Constitutional Court.
The Chamber ordered the suspension"... temporarily, from the notification of this resolution, of the entry into force and the effects of Executive Decree No. 39 of 16-VI-2016, published in the official newspaper issue 112, volume 411, of the same date, which amends the Regulations of the General Electricity Law, i.e., the application of a charge for social investment at a rate of 13% of the value of the average price of transferable electricity rates which were recorded in the quarter running from April to June 2016. "
Companies operating in then Panamanian mall will have until January 7, 2017 to continue doing business with US citizens and companies.
The extension of the license until the beginning of 2017 allows for "those transactions and activities to be made which involve individuals and undesignated entities in Soho Mall, in order to gradually reduce those transactions, contracts, and other agreements involving the exchange of goods and services," in accordance with the ruling by the Office of Control Foreign assets (OFAC) of the US Treasury.
A bill proposes allowing the government to implement executive recruitment procedures for public works in order to carry out urgent road works.
The aim is to reactivate the use of emergency mechanisms for 15 roadwork projects of relevance which have been put on hold for various reasons.Among them are the construction of the Cañas-Limonal-Canyon highway, the North Ring Road, the expansion of the road to Cartago and the route between San Jose and San Ramon.
The Centre for Settlement of Investment Disputes has ruled against the businessman Julio Lisac, who filed the suit after cessation of a concession for a hydroelectric project.
From a statement issued by the Ministry of Economy and Finance:
Panama wins arbitration in ICSID · The lawsuit filed by Transglobal Green Energy against the Republic was rejected
The Public Prosecutor and the CICIG have denounced cooptation of the state through a network of corruption headed by Pérez Molina and Roxana Baldetti and arrest warrants have been issued including for very high level entrepreneurs.
Among the employers that the CICIG has linked to this case are Flavio Montenegro, president and manager of Banco G & T Continental, Adolfo Fernando Peña of Banrural, Enrique Castellanos, general manager of Claro, and Alvaro Mayorga Giron, former president of the CACIF, among others.