Panamanian businesses with turnover of less than $36 thousand a year will have access to a tax credit for up to 100% of the value of the equipment.
The credit is for the purchase of a single piece of equipment whose price can not exceed $850.
With the new regulations to be included in the amendments to Bill 375, the General Directorate of Income is trying to alleviate the economic impact for micro businesses.
In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.
Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.
Micro, Small and Medium Enterprises will have easier access to credit with the new law.
Giselle de Calcagno, head of AMYPYME (Micro, Small and Medium Enteprises Authority), stated that "the project will foster the creation of a micro credit banking industry. The idea is for the state to invest in a second tier banking fund, so entrepreneurs have easier access to credit", reported Laestrella.com.pa.
A novel program gives business training to SMEs in Panama, awarding working capital prizes to the best 100.
420 entrepreneurs will receive courses of 40 hours a week in 16 mobile units from the SMEs authority, also known as Ampyme. These units are equipped with machinery and their respective training and coaching staff.
With this program, Ampyme wants to offer entrepreneurs the opportunity of having their own business in these sectors: dairy products, bakeries, fruit and food conserves, crafts, esthetics and beauty, and administrative services.
The Panamanian government is allocating this amount to the development of micro and small businesses involving 546,412 establishments on the national level.
Giselle Calcagno, Minster of the Micro, Small, and Medium Business Authority (AMPYME, acronym in Spanish) commented that the fund is designated for seed capital, micro-credit, collateral funds, and for technical training and assistance.
The 75% reduction of the flat rate will be applied to micro- and small-businesses that invoice less than $500,000 per year.
This measure will be enacted by President-elect Ricardo Martinelli in his first 100 days in government, and it entails applying tiered discounts of up to 75% of the flat rate paid by businesses that invoice less than $500,000 annually.
According to the Union of Small and Medium-Sized Businesses (PyMEs), the new migratory law has made the country less competitive for the small investor.
The new law, which was approved in February, increased the total of the minimum investment from $40,000 to $160,000.
ADN.es publishes comments by Ramón Arroyave, president of the Union of PyMEs, "we have regressed to being less competitive.
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