españolBanesco To Open in Dominican RepublicTuesday, September 21, 2010 Banesco was authorized by the Panamanian Banking Superintendence to open a branch in Dominican Republic. From yesterday’s official government newspaper: Regulating E-Commerce in PanamaWednesday, June 3, 2009 The law regulating electronic commerce in the country became effective with the recent publication in the Official Gazette. Gisela Alvarez de Porras, Minister of Commerce, welcomed the joint work undertaken by the Government and private sector for the regulation of this law. Panama: Street Repair ObligatoryWednesday, June 17, 2009 Since June 11th, construction companies now have an obligation to repair any damages created by their projects to the streets of Panama City. The agreement issued by the City Council of Panama and published in Panama's official newspaper, Gaceta Oficial, establishes that promoters, construction companies, and others have the obligation to repair any street damage that occurs during the process of construction upon finalizing their projects. Panama tightens tax controlsThursday, May 22, 2008 Panama is tightening tax controls by means of a decree that creates five new forms to "prove the veracity of information supplied by taxpayers and third parties." The decree obliges banks and other financial institutions to present certificates of mortgage interest payments. Sugary Beverage Tax ApplicableThursday, November 21, 2019 A law was published in the Official Journal of Panama that establishes a 7% tax on carbonated beverages, 5% for other sugary beverages and 10% for syrups, syrups and concentrates for the production of sugary beverages. On November 18, Law 114 was published in the Official Journal, entitled " What creates the Action Plan to Improve Health and dictates other provisions to establish the selective tax on the consumption of sugary beverages and the criteria for its use." Costa Rica approves FTA with PanamaWednesday, October 15, 2008 The full session of Congress unanimously approved the Free Trade Agreement (FTA) with Panama yesterday after the second reading and debate. In order for the project to become law it must first be signed the president of the Republic, Oscar Arias, and published in the government Gazette. The commercial agreement provides an immediate opening and tax exemption for 92% of the 1500 products and services that Costa Rica offers to the Panamanian market.. Cold Chain Project Starts in PanamáTuesday, July 7, 2009 The project that aims to reduce post harvest losses in Panama started with the creation of the Cold Chain Secretary. In the first 100 days of the Ricardo Martinelli administration, the Secretary of the Cold Chain, who is still to be named, will have to present a proposal for the program. Changes to Vehicle Transit Restrictions in Costa RicaTuesday, January 4, 2011 During the next three months the transit vehicle restriction will apply only during rush hours. Depending on plate number the restriction will apply between 6:00 am and 7:30 am and between 4:30 pm to 7 pm. Panama: Preferential Housing InterestsTuesday, May 21, 2019 Until May 21, 2025, the plan to grant preferential interest rates for mortgage loans in the country was extended. On May 20, Law No. 85 was published in Gaceta Oficial, which was approved by the National Assembly in April of this year and sanctioned this week by President Juan Carlos Varela. Panama: Zero Tariffs for Maize ImportsMonday, April 29, 2013 In return assurances have been given on the purchase from local producers of more than 500 million quintals of coffee. The resolution was published in the Official Gazette and indicates that meat, eggs and milk are produced mainly from using feed based on corn, a grain whose cost is a little over 65% of the total cost of production of meat, especially chicken and pigs. Panama: Concession for Televised Bingo ApprovedFriday, August 30, 2013 An award has been made to Inversión Mundial S.A. of a 20-year concession for managing and operating a new bingo sweepstake that will be broadcast on television. The company to which the Ministry of Economy and Finance (MEF) has awarded the concession is represented by Gabriel Elias Fernandez de Marco. The Panamanian government will receive 8% a month of the total amount collected from the four draws to be made. New Oil Law in Effect in PanamaWednesday, September 11, 2013 If the existence is confirmed and exploitation made of oil in the Darien, royalties for the state in 20 years could total $20 billion. The regulations were published today in the official newspaper. According to a study by OTS Latin America LLC in Darien there are reserves of 900 million barrels of oil, therefore within 20 years the country will receive $20 billion in royalties from the $90 billion that could be generated for oil companies . Panama: Incentives Authorized for Bern GroupThursday, July 18, 2013 An agreement has been made to give tax exemptions to Aerotel SA, part of Empresas Bern, for the construction of the Hotel Crowne Plaza Aeropuerto, near Tocumen International Airport. Prensa.com reports: "Empresas Bern will benefit from tax incentives, according to the provisions of Resolution No. 078 of June 7 in the official newspaper, a total exemption for a period of five years from import tax on construction materials, and 10 years for furniture, fittings and equipment. " Municipal Taxes for Colon Free ZoneFriday, February 14, 2014 The Colon City Council has repealed a 1953 rule which exempted companies that provide services in the CFZ from paying taxes. Colon City Council passed a bill that repeals another approved in 1953 that exempts from tax services performed by companies in the Colon Free Zone (CFZ). Companies that offer services such as banks, law firms, messaging, restaurants, cleaning, consultancy and others, will be obliged to pay taxes. Panama: Car Rental Shops at AirportsTuesday, March 3, 2015 In David, Howard, Colon and Rio Hato the minimum monthly fee for renting spaces to sell duty free clothing, jewelry, and prepared meals will be $30 per square meter and 10% of the gross sales from the premises. Tocumen SA has revealed that in the case of premises dedicated to selling crafts and antiques the price will be $20 per square meter, as indicated by the decision of 24 October 2014, published in the official newspaper La Gaceta. |
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Saturday, March 25, 2023 - last update: 3:22 am
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