Panama: Law on Tax Credit for Tourism Projects
International Business Articles
Quijano & Associates
Panama City, Panama
The president of the Republic of Panama sanctioned Law 122 on December 31st, 2019, by means of which investors who develop tourism products will be eligible for a tax credit.
This Law extends until 2025 the period for investors to request the package of incentives that are also aimed at promoting the construction of marinas, docks, airports, medical tourism; as well as outdoor activities such as luxury camps (a new trend known as ‘glamping’) that has taken boom in recent years.