In Panama, a bill that establishes exemptions for those natural and legal persons specialized in the operation of industrial recycling plants was approved in the third debate.
The purpose of this new regulatory framework is to stimulate with environmental tax benefits the establishment of recycling companies, which do not exist in Panama, seen as an ideal process to end the problem of garbage accumulation in the country, informed the National Assembly.
After it was announced that incentives would be given to cruise lines that establish their base port in one of the country's maritime terminals, Lindblad Expeditions expressed its intention to operate cruises from the ports of Cristobal and Amador.
According to the letter of intent that was sent, it is 6 operations in the year 2021 and 14 operations for 2022 of Lindblad Expeditions that operates its adventure cruises with National Geographic and Ancon Expeditions in Panama.
The Cabinet authorized the Minister of Commerce and Industry to submit to the Assembly a bill to create the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services Related to Manufacturing.
In Honduras, a law reform was approved that simplifies the procedures that local and foreign companies must follow to take advantage of the Free Zone Law and extends for 15 more years the benefits that it grants to the companies of the regime.
From the National Congress of Honduras' statement:
In order for Guatemalan producers to compete under the same conditions as neighboring countries, the government is preparing a bill that seeks to exempt agricultural inputs from VAT.
The initiative, known as the "Fiscal Equity Law", is being prepared by the Ministry of Agriculture, Livestock and Food (Maga), because, according to the institution's top official, other Central American countries do not charge value-added tax (VAT) on agricultural inputs.
In Costa Rica, the Ministry of Finance decided to extend the deadline by 24 additional months so that the import of hybrid and electric vehicles can be done at reduced rates and in some cases without paying taxes.
With the publication of decree 42080-H-MINAE-MOPT in the edition of the Official Journal of Thursday, January 16, 2020, the benefits will be maintained until December 2021.
In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.
On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.
By approving the changes to the Special Law for Exploration and Exploitation of Hydrocarbons, the country's oil sector contractors are exonerated from all taxes.
The amendments stipulate that transfers of agreed contracts shall not pay taxes during the exploration period, and the direct or indirect assignment or transfer of all or part of the rights derived under any modality for the activity of exploration and exploitation of hydrocarbons shall be exempt from any capital gains tax.
In Honduras, Congress approved the creation of the Social Interest Housing Bond, which will be a state contribution in cash or in kind, and may not be less than 11% of the value of the home to be purchased or rented.
According to Article 18 of the law, to access these bonds, the Secretariat of Housing and Human Settlements (SEVIAH) will prioritize access to the bond and housing care for households with incomes less than or equal to four (4) Minimum Wages, at its highest scale in force, Congress reported.
As of January 2020, electric vehiclesimported into El Salvador and Honduras will be exempt from the import duty, which was 30% in El Salvador until now.
In Honduras, Congress extended for two more years the validity of the Law to Support Micro and Small Enterprises, which grants benefits such as exemption from payment of income tax and other taxes.
To opt for the benefits granted by the law, interested parties must process their permits, national and municipal licenses for its operation, reports a statement issued by Congress.
The National Assembly of Panama approved funds to pay during the second half of the year, incentives to producers of rice, corn and milk grade C.
The Budget Commission of the National Assembly approved in favor of the Ministry of Agricultural Development (MIDA) $17,371,543, to pay incentives to producers, needs an official report.
The high energy tariffs paid in Costa Rica compared to other countries in the region and the effects of the monopoly that exists in electricity generation are threats to the local economy and future investments.
In Guatemala, Congress is discussing a bill that seeks to increase the arrival of flights to the country through tax incentives for airlines, which would be coupled with the elimination of improper tax charges.
On August 14, 2019, the President of the Legislative Branch, Álvaro Arzú Escobar, presented to Congress initiative 5585, which has the support of the International Air Transport Association (IATA), the Latin American and Caribbean Air Transport Association (ALTA) and the Guatemalan Association of Air Lines (AGLA). See full bill.
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.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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