Panama: More Companies to Withhold ITBMS


News from Panama

The obligation to retain part of the tax on the transfer of movable property and provision of services now extends to companies whose annual purchases exceed $5 million. Since February last year, 163 companies have had to withhold a percentage of ITBMS from their suppliers for purchases of goods and services, and then send it to the tax […]

July 11, 2017

Panama facing airspace overhaul challenge


News from Panama

  Panama is planning to modernize  its airspace to support how its manages a forecast annual increase in international traffic of 5 per cent. Experts of the International Air Transport Association (IATA), the University of Texas at Arlington (UTA), Boeing, the Federal Aviation Authority  and the country’s air navigation services provider met at the Technological University […]

July 11, 2017

Is Panama Making the Right Move by Recognizing China?


News from Panama

Panamanian President Juan Carlos Varela on June 21 defended his country’s decision the week before to give diplomatic recognition to China, effectively cutting off diplomatic relations with long-time ally Taiwan. He said the move was “the right thing to do,” adding that it would bring investment and trade to the country. Did Panama make the […]

July 11, 2017

Panama Needs to Redesign its Airspace


News from Panama

The airlines claim there is a need to improve air traffic management at Tocumen airport, because “it is useless to have a new terminal if the planes cannot land.” Panama is at risk of losing competitiveness to other air hubs, such as Bogotá, if it does not take measures to reduce air congestion at Panama City’s international airport, […]

July 4, 2017

Coffee: May 2017 Global Prices


News from Panama

International prices continued to decline in May, in the context of optimistic outlooks on global grain supply for the coming months. From the Monthly Coffee Market Report, by the International Coffee Organization: Coffee prices continued to fall as the market remains well supplied and inventories in consuming countries are high as a result of strong […]

July 3, 2017

Plans to Build $70 million Hospital


News from Panama

An environmental impact study has been presented in Panama to design and build a hospital in Puerto Armuelles, Chiriquí province. Data from the Interactive System “Construction in Central America”, compiled by the Business Intelligence Unit at CentralAmericaData, indicates that in April the Social Security Fund submitted an Environmental Impact Study (EIS) to the Ministry of the Environment. According to the […]

July 3, 2017

Panama Suspends Imports of Colombian Meat Products


News from Panama

The government has issued a health alert due to an outbreak of foot-and-mouth disease in Colombia, and has temporarily suspended imports of processed meat and dairy products from susceptible species. “.. The Ministry of Agricultural Development, through the National Directorate of Animal Health, wishes to communicate that in light of the re-emergence of the virus known as foot-and-mouth disease […]

July 3, 2017