To promote tourism in Panama, incentives have been established
Published on : Friday, January 24, 2020
The benefits established by Law No. 80 of 2012 are keen on improving foreign investment in tourism in Panama for:
Public tourist accommodation
- Establishments of tourist accommodation based outside Panama district.
- Establishments and constructions within the purview of the district of Panama.
- Complementary hotel investments like golf and tennis courts, spa, gyms, discotheques, restaurants, convention centers, and marinas, among others.
- Tourist products like conventions or exhibitions, incentive trips, nautical tourism for cruises, nautical tourism for marinas and docks, and others.
- Travel agencies and tour operators.
- Investments in public sites
The incentives established by Law No. 80 of 2012 and are approved by the Panama Tourism Authority, once the company and activity to be engaged are registered with the National Tourism Registry.
Last December 2019, Law No. 122 was approved. It has amended Article No. 09 of Law No. 80 of 2012. The main intention of this amendment is to help investment and financing in various new tourism projects or new stages as well as extensions of those projects existing outside Panama. For all these, the sums invested by individuals or corporations in the acquisition of bonds, shares and other financial instruments will be considered 100% tax credit for income tax purposes.
Tags: Panama tourism, Tourism, Tourism news