Top

Author Archive | Tom

bg-casa-1-a

Panama: Exoneration of Property Tax

The government will be presenting a bill in the Assembly that raises the value of housing that can be exempted from payment of property tax up to $120 thousand. From a statement issued by the Ministry of Economy and Finance:   The Ministry of Economy and Finance (MEF) presented a bill that establishes the most significant reduction […]

Continue Reading 0
drivers license

Tender: $62 million for Driver’s Licenses

Susie and I recently renewed our drivers licenses here in Panama and the system is great.  Took all of 20 minutes and we are good to go for another 5 years. A tender is being launched in Panama for a service to issue driver’s licenses and vehicle ownership cards, as well as issuance of cards for weights […]

Continue Reading 0
forestry

Panama: Incentives to Forestry Sector Extended

Another bit of good news for the environment in Panama. The Assembly approved extending to the forestry sector a program of fiscal incentives, such as exemption of income tax, real estate and introduction, among others. From a statement issued by from the National Assembly: A few months after finalizing a series of prerogatives for forestryactivities, the […]

Continue Reading 0
generali

Generali signs $172m agreement to sell Panama business

Generali has entered into an agreement to sell its business in Panama, the latest in a series of exits from Latin American markets for the Italian insurer.   The company will sell its Panama City branch, including its insurance portfolio, to ASSA Compañía de Seguros for around $172m (£131m, €145m). Based in Panama City, ASSA […]

Continue Reading 0
facta

Panama Ready to Send FATCA Reports

Since August 8, the online tax tool for sending reports to the US tax administration has been available online. From a statement issued by the Ministry of Economy and Finance:   The General Directorate of Revenue (DGI) announced that, as of today, the IT solution for FATCA & AEOI reports is available. This website can […]

Continue Reading 0
growth

Foreign Investment Figures in Central America

In 2016 44% of foreign direct investment in the region was concentrated in Panama, and a fourth consecutive year of increases was recorded, with 16%, while Costa Rica received 27% and increased by only 1.1%. From chapter I of the report “Flows of FDI in Latin America and the Caribbean”, by the ECLAC: FDI into […]

Continue Reading 0
insurance super

Panama: Legal intervention of Reinsurer

For failing to comply with minimum capital requirements, the Superintendency of Insurance has ordered the intervention into Alliance Re Reassurance Suisse S.A. for a period of six months. For failing to comply with article 47 of the insurance market law, the Board of Directors of the Superintendency decided to take over operation of the reinsurer for 180 days. In addition to breaching […]

Continue Reading 0
wild bill.jxr

Americans sentenced in Panama for 5 murders

It was good news to hear of Wild Bill’s prison sentence.  This guy was an animal and believed to have committed more murders.  He will rot in prison as he should.   U.S. citizen William Dathan Holbert was sentenced to 47 years in prison by a court in Panama for robbing and killing five other […]

Continue Reading 0
coffee young man

Meet the Youngest Coffee Farmer in Boquete, Panama

Michael Butterworth cofounder of the Coffee Compass did an interview of Keith Pech who is a coffee grower here in Boquete.   Earlier this year we traveled to Boquete, Panama for the Best of Panama competition. While we were there we met a remarkable young coffee farmer named Keith Pech, who manages his family’s farm […]

Continue Reading 0
Plastic garbage is swimming on the water surface --- Image by © Gary Bell/Corbis

Plastic Bags Banned in Panama

This is  bold move on Panama’s part and a welcome one for our environment. The Assembly has approved a law prohibiting the delivery of disposable and non-biodegradable plastic bags to end consumers in supermarkets and commercial establishments. From a statement issued by the National Assembly of Panama: The proposal is that establishments will proceed with the […]

Continue Reading 0