The law project approved in the first debate in Panama establishes penalties of two to four years in prison for evasion of $300,000 or more and could be used as a precedent for money laundering.
The Commission of Government, Justice and Constitutional Affairs of the National Assembly, approved in the first debate the law project 591, which considers tax evasion as a crime.
A law was approved in Panama that allows the authorities to temporarily suspend imports of agricultural products for human consumption when local production is enough to meet demand.
The Congress approved Ley 680 project, which will allow the Ministry of Development to suspend imports of agricultural products for a period of 12 months. Among the products whose importation may be suspended are meat products and fluid milk.
In accordance with what was reported during 2018, in the first seven months of the year Panama received 1.48 million tourists, 2% of those reported in the same period of 2017.
According to the latest figures from the General Comptroller, between January and July 2017 and the same period of this year, the number of visitors with tourist purposes who arrived in the country fell from one million 504 thousand to one million 475 thousand.
In Panama, a bill proposes reinforcing coercive measures for customs offenses with penalties ranging from $250, to a fine equivalent to the value of the unpaid taxes.
The Ministry of Economy and Finance explained that the bill proposes "to facilitate greater collection, in any of the instances that sanction the crimes of customs fraud and contraband."
President Varela has vetoed the bill that repealed the concession contract to build and operate a container terminal in Rodman, which had been awarded to PSA Panama International Terminal.
The bill approved by the National Assembly in mid-April contained an article that repealed the concession contract with PSA Panama International Terminal,approved more than three years ago. At the time, the decision of the deputies was strongly criticized by the Panamanian business sector, which described it as athreat to legal security.
In Panama, a bill is being discussed which would modify the legal framework of the electricity sector, and among the proposed changes is setting limits on concessions granted to companies.
The National Assembly of Panama reported that "...The Trade and Economic Affairs Commission continued discussion of Bill 573, which modifies the regulatory framework for the provision of electricity services, witha reading of the modifications presented by the parties."
A proposal has been made to extend for two years tax benefits for private investment developed in the area of the Casco Antiguo de San Felipe, in Panama City.
The draft aims to extend the conditions afforded by Law 136 of 2013, because, as discussed in the preamble of the document,"... the timeframe of two years has been insufficient for many owners and investors, and having expired on January 17, 2016, a situation that has created where there is a gap in terms of benefits, hurting the approval of loans and bank financing and tax exemptions and benefits for the National Directorate of Revenue with the consequent loss of the exemptions set forth in this regulation".
Transparency International believes that the bill currently under discussion is insufficient to prevent corruption in the state procurement system.
According to the Panamanian chapter of Transparency International, the bill on public procurement in the country should include aspects such as making public the annual action plan to further reduce discretion to recruit directly, eliminating the possibility of "addenda which is harmful to the interests of the State " or improving the process of paying bills.
The law passed by the Assembly provides incentives to the construction, operation and maintenance of solar power plants and installations.
From a statement issued by the National Assembly of Panama:
In order to promote the establishment and operation of photovoltaic systems, the legislative plenary approved Bill 267, in a third debate, which amends and adds provisions to Law 37 of 2013, which establishes an incentives scheme for the promotion of construction, operation and maintenance of solar power plants and / or installations.
MEPs have given the green light to legislation that modernizes the legal framework of the free trade zone, including the consolidation of business operations under other schemes.
From a statement issued by the National Assembly of Panama:
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