Panama: Tax Exemptions for Forestry


News from Panama / Tuesday, March 14th, 2017

The bill presented by the government includes exemption from income tax and property taxes and for transfers of companies engaged in reforestation activities.

From a statement issued by from the National Assembly:

Environment Minister, Mirei Endara, presented on Wednesday, to the plenary of the National Assembly, a draft law establishing an incentive program to restore forest cover and promote conservation of natural forests.

Under this initiative, this project establishes an incentive program, which includes:

  1.  Exemption from income tax
  2.  Exemption from property tax
  3.  Exemption from tax on transfer of property
  4.  Exemption from introduction tax 
  5.  Direct grant funding