Panama Considers More Incentives for Tourism Sector

©image: Bob Therina

The project seeks to create one legislation combining all the regulations, certifications and incentives that currently exist for the sector, as well as incorporate new ones.

"Projects currently being developed in Panama's 10 designated tourism zones can apply for incentives established in Law No. 8 from 1994 such as 20 tax exemption on furniture and zero tax on the company's profits during the first five years of operation," reports Prensa.com.

The new legislation will keep these incentives and increase them depending on how isolated the development is, according to ATP investment director, Teodolinda Quintero.

Source: Prensa.com

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