In Panama, President Cortizo sanctioned the Law that establishes that from 2024, 100% of the resources retained by the Special Interest Compensation Fund will go to the agricultural sector.
The National Assembly approved a bill that establishes that by 2024, 100% of the resources retained by the Special Interest Compensation Fund will go to the agricultural sector.
The Special Interest Compensation Fund (Fondo Especial de Compensación de Intereses, FECI) is fed by the 1% tax levied on the granting of all loans exceeding five thousand dollars in both commercial and consumer banks.
The Cabinet Council approved a project establishing that the Government will provide investment related to training and give tax incentives to companies that hire young people aged 15 to 24, without work experience.
The program called "Learning by Doing" seeks to provide the first work experience to young people who have completed basic education and have already entered universities or who opted for technical training.
Favorable financing conditions for the purchase of this type of vehicle and lower rates for freight services are part of the actions proposed by the government of Costa Rica to boost sales of electric vehicles.
The state-owned Banco Popular, Banco Nacional and Banco de Costa Rica are the financial entities that will offer attractive conditions in their credit lines for the purchase of electric transportation units.
The Guatemalan Congress approved a bill that contemplates the creation of a special tax regime for agricultural activity.
Although this bill was involved in controversy days ago, as the chambers of industry and commerce expressed their opposition, Congress decided to approve the bill. See full bill.
Nayib Bukele returned to the Legislative Assembly the reform to the law of Free Zones that granted tax benefits for an additional period of 10 years to companies in the country to increase their investment in 100% with respect to the initially made.
On August 29, 2019, the Assembly informed that the Legislative Plenum endorsed the reform to the Law of Industrial and Commercial Free Zones, establishing that the users of these zones would have a term of 10 additional years (before there were five) to continue enjoying total exemption from taxes, which would be applicable once the period established for the regular enjoyment of this benefit expired.
In Costa Rica, a bill is in progress that contemplates eliminating fines for the first member of a cartel that recognizes and denounces to the authorities that has engaged in monopolistic practices.
As part of the bills for Costa Rica's entry into the OECD, deputies voted in second debate file No.
In Guatemala, the chambers of industry and commerce oppose the bill that proposes to create a special tax regime for agricultural activity.
The project "Law on Simplification, Updating and Tax Incorporation", which has been in Congress for more than two years, was scheduled for final discussion until September 10.
On September 2, Costa Rica began the registration of individuals and agricultural producers who wish to opt for the benefits contemplated in the new tax regulations.
The term began on Monday, September 2 and ends on January 31, 2020, and for registration interested parties must submit their physical or legal identity card, and literal certification of the property, informed the Ministry of Agriculture and Livestock (MAG).
A bill was presented to create fiscal and economic incentives for companies and individuals using electric vehicles.
The bill "Ley de Transporte Electrico", presented by the organization Mover El Salvador to the Legislative Assembly, seeks that each new electric vehicle or new hybrid electric vehicle be the object of benefits.
In El Salvador, it is proposed that the law discussed in the Assembly, considers the reduction of minimum requirements for investments made in special economic zones, to compensate for the disadvantages of lack of productive activity in the area.
In July 2018, the Executive Branch presented to the Legislative Assembly the draft Law on Special Economic Zones (LZEE), which is being analyzed by the Economy Commission.
In the context of a considerable fall in foreign investment in the sector in Costa Rica, the situation could be further complicated by the elimination of tax incentives that tax reform is bringing along.
Figures from the Central Bank of Costa Rica (BCCR) detail that after reporting $443 million in foreign direct investment in tourism in 2017, this figure decreased dramatically last year, registering only $23 million.
Ventus S.A. de C.V., which will invest in the construction of the first wind farm in El Salvador, will enjoy tax exemptions in its investment plans and operation for 20 years.
The Guatemalan and Honduran capital company, Ventus, will invest $73 million over 10 years in the construction of a wind farm with a capacity of 54 MW, and the tax benefits that will be granted result from the signing of a Legal Stability contract for Investments.
In Panama, a law was approved that will grant tax incentives until 2025 to businessmen who invest in hotels and recreational activities.
Between the most important incentives that contemplates the law project 696 that was approved in third debate, it emphasizes the exoneration of the tax of material import, for the constructions of accommodations or inns for the tourism made in the interior of the country.
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