{"id":25449,"date":"2019-02-26T16:17:23","date_gmt":"2019-02-26T21:17:23","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=25449"},"modified":"2019-02-26T16:17:23","modified_gmt":"2019-02-26T21:17:23","slug":"incentives-construction-parking-lots","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/incentives-construction-parking-lots\/","title":{"rendered":"Incentives for the Construction of Parking Lots"},"content":{"rendered":"

\"\"<\/a><\/p>\n

In Panama, the National Assembly approved Law 63, which promotes and encourages the construction of underground parking spaces through tax benefits.<\/p>\n

The law initiative approved on February 12 contemplates the following tax<\/a> incentives:\n<\/p>\n\n\n\n\n\n\n
Investment Amount
\n<\/strong><\/td>\n		Exoneration time
\n<\/strong><\/td>\n		Exoneration percentage<\/strong><\/td>\n<\/tr>\n
$0 to $200 thousand<\/td>\n5 years<\/td>\n80%<\/td>\n<\/tr>\n
$200.001 to 500 thousand<\/td>\n10 years<\/td>\n75%<\/td>\n<\/tr>\n
$500.001 onwards<\/td>\n15 years<\/td>\n65%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

From the National Assembly statement:<\/p>\n

The approval in the third debate of Law 63, which promotes and encourages the construction<\/a> of spaces for underground parking<\/a>, is directed in two lines, one to alleviate the problem faced daily by motorists and the second to create a level of competition for private companies, which are currently engaged in this activity.<\/p>\n

The project seeks to create more spaces for public parking to solve a big problem faced by car owners, as stressed on several occasions by its proponent, Deputy Ivan Picota.<\/p>\n

The initiative offers tax incentives to investors participating in the business. The concessions will be granted by the country’s municipalities.<\/p>\n

A Municipal Planning Board will be created in the municipalities, which in turn may create a Municipal Technical Commission to establish and implement a plan for the development of these infrastructures.<\/p>\n\n

\n

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    In Panama, the National Assembly approved Law 63, which promotes and encourages the construction of underground parking spaces<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[10,12,247,241,39,248,34,33,62,42,219,11,249,243,7,246,244,44],"class_list":["post-25449","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-bocas-del-toro","tag-boquete","tag-boquete-boca-chica-real-estate","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nIncentives for the Construction of Parking 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