Goods and services imported from the South American country will no longer incur the "patriotic" tax of 35%, which has been levied since 1999.
From a statement issued by the National Assembly:
With the unanimous approval this March 7, of the Bill Repealing the law creating the tax on Goods and Services of Colombian origin or provenance, Nicaragua opens the door to boosting investment and improving the business climate between the two countries.
From December 2016 the Asian country will prevent the entry of agricultural products containing any residues of agrochemicals.
From a statement issued by the State Phytosanitary Service in Costa Rica:
SFE authorities have communicated to exporters of unprocessed plant products destined for Korea, that this nation has established a new legislation on Maximum Residue Limits (MRLs) of pesticides.
A bill introduced by the government intends to streamline access to the Panamanian market for foreign companies in the provision of maritime auxiliary services.
Excerpted from the bill introduced by the government of Panama:
Law 41 of June 14, 2013, through which reform is made to Law No. 8 of 1998 is amended by Decree, Act 56 of 2008 and Act 57 of 2008 which dictates other provisions on the work at sea and on waterways, significantly restricting access to the Panamanian market to foreign investors in the provision of maritime auxiliary services in the Republic of Panama.
The government has committed to remove the fee of 0.26% on the value of goods for inspecting cargo via scanner.
"What is (now) our responsibility is to finish reviewing what will happen with the mechanism, what the cost will be, which we are defining. We are seeing what will happen to exports, imports from free zones, what will happen with international traffic, but what is noteworthy is that what has been agreed is an elimination of the ad valorem (tax)," said President of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri.
The Scanner Act in Nicaragua goes against the regulations of the World Trade Organization and the Association Agreement with the European Union.
This was stated by the head of the EU delegation to the region, Javier Sandomingo. "The problem with the proposed payment outlined in the new Scanner Act is that it is to be applied ad valorem (related to the value) while the service provided by customs offices will be the same regardless of the value of the goods," he said.