Panamanian President Laurentino Cortizo, sanctioned the law that creates the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing.
After the <a href="https://centralamericadata.com/en/article/home/Aval_a_ley_de_Empresas_Multinacionales" target="_blank">deputies of the Panamanian Assembly approved in the third debate last month the bill that aims to promote investments in this context of economic crisis that derives from the outbreak of covid-19, the President of the Executive sanctioned the regulation on August 31, 2020.
The National Assembly approved in third debate the draft law establishing temporary employment protection measures in companies affected by covid-19.
The initiative presented by the Executive received several modifications in its original content, both in the first and second debate, leaving the deputies with the reservation that these are temporary rules and are not intended to a future reform of the Labor Code, the Assembly reported.
The Panamanian Assembly approved in third debate the bill 305, which ratifies the Free Trade Agreement between the Asian country and the Central American region.
Once President Cortizo Cohen approves this law and it is promulgated in the Official Journal, it is expected that the corresponding diplomatic notes will be exchanged as soon as possible so that the FTA can come into effect, informed the Panamanian government.
As a result of the economic effects that the outbreak of covid-19 will cause in the National Assembly, a general suspension of the payment of taxes, basic services and bank credits for three months is proposed, but the businessmen think that it is not suitable to generalize the measures.
Bill No. 390, which proposes the suspension of payments and collections of taxes, social security contributions, mortgage loans, commercial and agricultural loans, is advancing in the National Assembly.
Panamanian businessmen consider unviable the bill that intends to force insurance companies to cover medical expenses related to the coronavirus.
The bill, which was presented by Representative Zulay Rodriguez, seeks to ensure that insurance company clients are attended to in case they are infected with covid-19, however, policies do not usually provide coverage when the disease is declared as an epidemic or pandemic.
The restriction on hiring individuals who have been convicted in the five years preceding the public act of committing crimes is part of what is contemplated in the bill that is about to be approved in the first debate in Panama.
The new Public Hiring Law is in its final phase to be approved, in first debate, in the Commerce Commission, informed the National Assembly last February 12.
A bill has been submitted to the Assembly to create a compulsory system of classification of carcasses and nomenclature of beef cuts.
The bill, which was presented by the Minister of Agricultural Development (Mida), seeks to create beef cuts, in addition to protecting and guaranteeing information on beef cuts purchased by consumers, the Assembly reported.
A bill has been submitted to the National Assembly proposing to prohibit the practice of advance discounts for late payments.
The document also provides that banks agree to enter into a payment arrangement with the debtor when the customer is more than 90 days late in paying the loan.
The Panamanian National Assembly ratified the Association Agreement between the United Kingdom of Great Britain and Northern Ireland and Central America, which aims to safeguard trade relations for the Brexit process.
Project 154, which was approved on October 28, essentially preserves the rights acquired by both parties and does not change the set of rights and obligations acquired by the Republic of Panama. This agreement is based on three pillars: political dialogue, trade and cooperation, informed the National Assembly.
In Panama, a bill is planned to convert the provinces of Los Santos and Herrera into a Special Economic Zone, which will offer tax and labor incentives to companies in the agricultural sector that decide to invest in the area.
Representative Julio Mendoza, of the Democratic Revolutionary Party, announced that in the coming weeks he will present a bill to the Assembly to create the Special Economic Zone of Azuero.
The National Assembly approved in first debate the bill of the Free Trade Agreement between the State of Israel and Panama, signed in May 2018.
The Foreign Affairs Committee approved in first debate the bill of the Free Trade Agreement between the State of Israel and Panama, informed the National Assembly last October 2.
In the third debate, the Assembly approved a bill establishing that the government may make exceptions to the sanitary registration of pharmaceutical products in situations of critical shortage.
At the same time, it empowers the Ministry of Health to purchase medicines under the criteria established by the World Health Organization (WHO), which will allow that when local agents do not participate in the sale, it will be possible to go through international agents, informed the National Assembly on October 3.
The use of a certificate of operation, the identification of the car with Uber's logo and the fact that the driver has a type E1 license are some of the proposals that a bill presented to the Assembly compiles.
On September 9, a bill was presented to the National Assembly to amend "Executive Decree No. 331 of October 31, 2017," by which it is intended to impose requirements on drivers who provide the transport service through the Uber platform. See full initiative.
The removal of the disqualification from hiring natural and legal persons who have been sentenced for corruption is one of the most important changes made to the bill that creates the Public-Private Partnership Regime.
The Cortizo administration approved a proposal that establishes that the government will assume 2% of the bank interest for the purchase of homes valued between $120,000 and $150,000, and in the case of real estate between $150,000 and $180,000, the exoneration will be 1.5%.
The Cabinet Council approved on September 3 the bill No. 044-19, which still has to be endorsed by the Assembly and seeks to increase coverage for the purchase of homes worth $180,000, informed the presidency of Panama.
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