ZLC Law: Good but Not EnoughMonday, May 10, 2021 After the announcement of the Bill that creates the Program for the Modernization of the Logistics Services Infrastructure in the Colon Free Zone in Panama, local businessmen believe that more attractive incentives should be sought. Last April 28, the Assembly reported that the Minister of Commerce and Industries, Ramon Martinez presented to the plenary of the Legislative Body the bill that creates the Program for the Modernization of the Infrastructure of Logistics Services in the Colon Free Zone (ZLC), and introduces amendments to Law 8 of April 4, 2016. Tax: Setback for Local AuthoritiesFriday, April 16, 2021 After in Costa Rica the mayor of Alajuela filed an action of unconstitutionality to revert the authentic interpretation approved by the deputies for the payment of real estate taxes applicable to free zones, the Chamber ruled negatively to the legal recourse filed. The magistrates determined that the allegations presented on March 16, 2021 by Humberto Soto, mayor of the municipality of Alajuela, were incorrect and the appeal was rejected. Local Governments vs. Legal SecurityMonday, April 12, 2021 After the Mayor of Alajuela filed an action of unconstitutionality in Costa Rica to revert the exoneration of real estate taxes applicable to free trade zones, the business sector believes that legal certainty is being undermined. On March 16, 2021 Humberto Soto, Mayor of the municipality of Alajuela, filed an action of unconstitutionality. This legal recourse has the objective of reverting the exemption that free zones enjoy for the payment of the real estate tax. Free Trade Zone Announces Ambitious Investment PlanWednesday, January 27, 2021 America Free Zone, located in Heredia, Costa Rica, plans to execute an investment plan in the next few years totaling close to $120 million and contemplates the implementation of electro-lane stations and the construction of new infrastructure. Executives of the business complex informed that up to now they offer their clients 200 thousand m2 of space for business activities, but the medium-term plans are to add another 60 thousand m2. Economic Development Zone Begins OperationsMonday, November 30, 2020 In Guatemala, the "Puerta del Istmo", a Special Public Economic Development Zone located in Pajapita, department of San Marcos, began operating. In October 2019 CentralAmericaData reported that Guatemalan authorities had approved the operation of a Special Public Economic Development Zone (ZDEEP) called "Puerta del Istmo". The complex located in San Marcos became the second EPZ to receive approval, as the first to be approved was "Michatoya Pacifico." Activity in the Colon Free Zone Falls 10% in 2019Wednesday, February 26, 2020 Last year the commercial activity of the Panamanian Free Zone totaled $18,469 million, 10% less than what was reported in 2018. From January to December 2019 imports in the Colon Free Zone (CFZ) totaled $8,655 million, and re-exports totaled $9,814 million, decreasing by 11% and 9% compared to the same period in 2018, respectively. Colon Free Zone Focuses on the CaribbeanFriday, December 13, 2019 Faced with the decline in commercial activity in the Panamanian Free Trade Zone, its directors are looking for new business opportunities in markets in the Caribbean. In the first seven months of 2019, commercial activity in the Colon Free Zone (ZLC) totaled $10.782 million, 14% less than in the same period in 2018. Imports totaled $5.224 million, and re-exports totaled $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively. More Investments in Free Trade Zones AuthorizedTuesday, December 10, 2019 In the Dominican Republic, five new companies have approved permits to operate in free trade zones, which together will make an investment of close to $16 million. Among the activities of approved companies are: manufacture of doors, windows and boxes, international call center services, and textile manufacturing, reported the National Council of Export Processing Zones (CNZFE). Honduras: Reform to the Free Zones LawWednesday, December 4, 2019 With the reform proposal to the Law of Free Zones presented to Congress, it is intended to reduce from 20 to 10 the requirements that must be met to approve a new free zone. After several months of working on the proposal to make changes to the law, the file was submitted to the legislative chamber and prepared by the Honduran Maquiladora Association (AHM), the Ministry of Finance, the Central Bank of Honduras and the Ministry of Economic Development (SDE). Second Economic Development Zone ApprovedTuesday, October 22, 2019 The second project was authorized in Guatemala to install a Special Public Economic Development Zone, which will require an initial investment of $16 million and will be located in Pajapita, department of San Marcos. "Puerta del Istmo" is the name of the industrial park, which will be on a 160-hectare site and will house industrial and logistics companies. Red Numbers Still in Colon Free ZoneThursday, September 26, 2019 In the first seven months of 2019, the commercial activity of the Panamanian Free Trade Zone totaled $10.782 million, 14% less than in the same period of 2018. From January to July, imports in the Colon Free Zone (ZLC) totaled $5.224 million, and re-exports amounted to $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively. El Salvador: Veto of Free Zone Law ReformTuesday, September 24, 2019 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. Guatemala Seeks More Mexican InvestmentThursday, September 19, 2019 Alejandro Giammattei, elected president of Guatemala, will propose to the authorities of the North American country that a special economic zone covering both sides of the border be developed. Guatemala's president-elect is wasting no time, since four months after taking office, he is already making investment proposals to neighboring countries. In this case, he will do so in Mexico, where on September 20 he will meet with Lopez Obrador and will deliver a file on the issues he proposes to work on in the coming years. Free Zone Law Reforms in HondurasFriday, September 13, 2019 The business sector and executive authorities are working on a proposal for reforms to the Law of Free Zones of Puerto Cortés, a project that aims to expand existing incentives for this regime. The modifications that will be discussed in next week's mobile congress in San Pedro Sula seek to reform decrees 1, 2, 3, 12, 16 and 22 of the Free Zone Law of Puerto Cortés. Pressure to Implement Single WindowTuesday, August 13, 2019 Five months after the regulations for the creation of the Single Window of Procedures for the Colon Free Zone were approved in Panama, businessmen are asking for their implementation to be accelerated. At the beginning of April, it was reported that the Board of Directors of the Colon Free Zone (ZLC) approved the resolution regulating the creation of the Single Window of Procedures (VUT) and its procedures to expedite trade in the free trade zone, however, so far the window in question still does not work. |
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