Law N ° 8
He promotes the tourist activities in the Republic of Panama.
Article 1. The present Law takes as a target the establishment of a simple, rapid and rational process for the development of tourist activities in the country; it grants incentives and benefits to the persons who devote themselves to tourist activities; to adopt necessary mechanisms to achieve the conjunction and coordination of the action of the sector public and deprived in the field of the tourism, and to promote tourism in Panama.
Article 17.
1. Entire exoneration for the term of twenty (20) years of the payment of the tax of building on the areas and progress that are of his property and that use it in activities of tourist development.
2. Entire exoneration for the term of fifteen (15) years of the payment of the impuestosobre the revenue derived from the activity of the company.
3. Entire exoneration for the term of twenty (20) years of the tax deimportación, contribution or tax, as well as of the tax of transferenciade goods furniture (ITBM) that there relapse on the import of materials, teams, furnitures, accessories, and restored that are used in the construction, rehabilitation and equipment of the establishment, any time, the goods do not take place in Panama or do not take place in quality and sufficient quantity. It will be understood as team for the ends of this Law, vehicles with minimal capacity of eight (8) passengers, planes, helicopters, longboats, ships or useful sports, dedicated exclusively to activities tourist.
4. Exoneration for twenty (20) years of the taxes, contributions, taxes or right of any class or denomination that relapse on the use of the wharves or airports constructed by the company. This facility will be able to be used in free form by the State and in accordance with the corresponding regulation.
5. Exoneration for twenty (20) years of the payment of the income tax caused by the interests that the creditors earn in operations destined for investments in the tourist activity to which he will devote himself.
Law N ° 54
(Of July 22, 1998)
Protection to the Investment
Article 1: The State promotes and protects the Investments carried out in the country, in all the sectors of the economic activity, foreseen in the Law, and in any of the managerial or contractual forms agreeing with the national legislation. For the effects of this law, there is considered to be an investment, the capital disposition, in money or in credit facility, capital goods or the transference of assets destined for the effective production of goods and services, in congruity with the activities established in the article 5 of this Law.
Article 2: The foreign investors and the companies in which these take part, have the same rights and obligations that the investors and national companies, without much ado limitations that established in the Political Constitution and the Law, including the regarding thing the freedom of commerce and industry, of exportation and import. Equally, the above mentioned investors will be guaranteed, the free disposition of the resources generated by his investment, the free repatriation of the capital, dividends, interests and utilities derived from the investment, as well as the free commercialization of his production.
Article 3: The right of property of the foreign investors does not have any more limitations that established in the Political Constitution and the Law.
Article 4: The rights of intellectual and industrial property of the foreign investors, they submit to the same regulations arranged for the national investors.
Law N ° 5
(Of January 11, 2007)
That improves the process of opening of companies and establishes other dispositions.
Article 1: I warn of Operation. Every natural or juridical person will be able to realize commercial or industrial activities inside the national territory, it holds to the established in the present Law and his regulations and with the limitations that the Political Constitution establishes; consequently, no public servant will be able to be opposed to the operation of a business that has expired with all the legal requisites.
The Notice of Operation is the only process needed for the beginning from a commercial or industrial activity in the territory of the Republic and it includes, but it does not limit itself, to the Record Taxpayers' Only one before the General Direction of Income of the Municipality of Economy and Finance. Consequently, no institution of the Public Administration or local government will be able to demand permission, license, seen well, I register or some approval as requisite to initiate to exercise a commercial or industrial activity, except the exceptions established by this Law or across special law or the related thing to the disposition of the goods of State or municipal goods.
Changes to the Organic Law of the IPAT (Law September 15 22, 1960)
Article 17: The Directorate will have the following attributions:
1) To look over the strict fulfillment of the laws and regulations related to the tourism, as for the protection of the tourists it refers, from what it will be authorized to get complaints and denunciations for the services given by the companies related with the tourism; and to realize investigations, publications, as well as the official representation before the corresponding judicial or administrative authorities in accordance with the article 32 of the present Law (Law 5/2007)
HE MUST LOOK OVER THE FULFILLMENT OF THE NORMS LINKED WITH THE PROTECTION TO THE TOURISTS.
1. To establish and to support a record of the establishments of public accommodation as well as the rest of the public services, to prepare and to establish the norms for the classification of these and the protection of his hosts as well as to authorize the functioning of establishments of public accommodation, agency of trips.
2. To establish in coordination with the competent authorities the conditions that they must assemble for the approval of the planes, the buildings and facilities that are destined for tourist services, (modified by the 7th Article. of the Law not 83 of December 22, 1976).
To send licenses of Guides of Tourism to persons of good conduct, by means of the presentation of examinations that demonstrate his competition in languages, notion of national folklore. To facilitate the steps of arrival the tourists to the borders, airports and wharves.
Law N ° 2 (Of January 7, 2006)
That regulates the authorizations for the tourist investment and the alienation of insular territory for ends of his tourist use and dictates other dispositions.
Authorization for Tourist Investment
Article 1: It corresponds to the Department of Economy and Finance, as institution in charge of the administration, conservation and alertness of all the goods that belong to the Republic of Panama, the granting of administrative authorizations for the term of up to forty years, extendable for an additional term of up to thirty years, on the following areas located in
geographical extensions that are destined for the tourist development, in accordance with the political ones of tourism approved by the Panamanian Institute of Tourism: insular territories, coastal zones and grounds property of the state.
In the areas destined for the tourist development located in indigenous regions, one will have to be provided with the due approval of the traditional regional corresponding authorities.
Paragraph: The authorizations that are granted in grounds of property of the State on continental and insular territory by virtue of this article, will not affect possessory existing rights that have been granted by the municipalities and by the corresponding authorities, before the entry in validity of the present Law.
He promotes the tourist activities in the Republic of Panama.
Article 1. The present Law takes as a target the establishment of a simple, rapid and rational process for the development of tourist activities in the country; it grants incentives and benefits to the persons who devote themselves to tourist activities; to adopt necessary mechanisms to achieve the conjunction and coordination of the action of the sector public and deprived in the field of the tourism, and to promote tourism in Panama.
Article 17.
1. Entire exoneration for the term of twenty (20) years of the payment of the tax of building on the areas and progress that are of his property and that use it in activities of tourist development.
2. Entire exoneration for the term of fifteen (15) years of the payment of the impuestosobre the revenue derived from the activity of the company.
3. Entire exoneration for the term of twenty (20) years of the tax deimportación, contribution or tax, as well as of the tax of transferenciade goods furniture (ITBM) that there relapse on the import of materials, teams, furnitures, accessories, and restored that are used in the construction, rehabilitation and equipment of the establishment, any time, the goods do not take place in Panama or do not take place in quality and sufficient quantity. It will be understood as team for the ends of this Law, vehicles with minimal capacity of eight (8) passengers, planes, helicopters, longboats, ships or useful sports, dedicated exclusively to activities tourist.
4. Exoneration for twenty (20) years of the taxes, contributions, taxes or right of any class or denomination that relapse on the use of the wharves or airports constructed by the company. This facility will be able to be used in free form by the State and in accordance with the corresponding regulation.
5. Exoneration for twenty (20) years of the payment of the income tax caused by the interests that the creditors earn in operations destined for investments in the tourist activity to which he will devote himself.
Law N ° 54
(Of July 22, 1998)
Protection to the Investment
Article 1: The State promotes and protects the Investments carried out in the country, in all the sectors of the economic activity, foreseen in the Law, and in any of the managerial or contractual forms agreeing with the national legislation. For the effects of this law, there is considered to be an investment, the capital disposition, in money or in credit facility, capital goods or the transference of assets destined for the effective production of goods and services, in congruity with the activities established in the article 5 of this Law.
Article 2: The foreign investors and the companies in which these take part, have the same rights and obligations that the investors and national companies, without much ado limitations that established in the Political Constitution and the Law, including the regarding thing the freedom of commerce and industry, of exportation and import. Equally, the above mentioned investors will be guaranteed, the free disposition of the resources generated by his investment, the free repatriation of the capital, dividends, interests and utilities derived from the investment, as well as the free commercialization of his production.
Article 3: The right of property of the foreign investors does not have any more limitations that established in the Political Constitution and the Law.
Article 4: The rights of intellectual and industrial property of the foreign investors, they submit to the same regulations arranged for the national investors.
Law N ° 5
(Of January 11, 2007)
That improves the process of opening of companies and establishes other dispositions.
Article 1: I warn of Operation. Every natural or juridical person will be able to realize commercial or industrial activities inside the national territory, it holds to the established in the present Law and his regulations and with the limitations that the Political Constitution establishes; consequently, no public servant will be able to be opposed to the operation of a business that has expired with all the legal requisites.
The Notice of Operation is the only process needed for the beginning from a commercial or industrial activity in the territory of the Republic and it includes, but it does not limit itself, to the Record Taxpayers' Only one before the General Direction of Income of the Municipality of Economy and Finance. Consequently, no institution of the Public Administration or local government will be able to demand permission, license, seen well, I register or some approval as requisite to initiate to exercise a commercial or industrial activity, except the exceptions established by this Law or across special law or the related thing to the disposition of the goods of State or municipal goods.
Changes to the Organic Law of the IPAT (Law September 15 22, 1960)
Article 17: The Directorate will have the following attributions:
1) To look over the strict fulfillment of the laws and regulations related to the tourism, as for the protection of the tourists it refers, from what it will be authorized to get complaints and denunciations for the services given by the companies related with the tourism; and to realize investigations, publications, as well as the official representation before the corresponding judicial or administrative authorities in accordance with the article 32 of the present Law (Law 5/2007)
HE MUST LOOK OVER THE FULFILLMENT OF THE NORMS LINKED WITH THE PROTECTION TO THE TOURISTS.
1. To establish and to support a record of the establishments of public accommodation as well as the rest of the public services, to prepare and to establish the norms for the classification of these and the protection of his hosts as well as to authorize the functioning of establishments of public accommodation, agency of trips.
2. To establish in coordination with the competent authorities the conditions that they must assemble for the approval of the planes, the buildings and facilities that are destined for tourist services, (modified by the 7th Article. of the Law not 83 of December 22, 1976).
To send licenses of Guides of Tourism to persons of good conduct, by means of the presentation of examinations that demonstrate his competition in languages, notion of national folklore. To facilitate the steps of arrival the tourists to the borders, airports and wharves.
Law N ° 2 (Of January 7, 2006)
That regulates the authorizations for the tourist investment and the alienation of insular territory for ends of his tourist use and dictates other dispositions.
Authorization for Tourist Investment
Article 1: It corresponds to the Department of Economy and Finance, as institution in charge of the administration, conservation and alertness of all the goods that belong to the Republic of Panama, the granting of administrative authorizations for the term of up to forty years, extendable for an additional term of up to thirty years, on the following areas located in
geographical extensions that are destined for the tourist development, in accordance with the political ones of tourism approved by the Panamanian Institute of Tourism: insular territories, coastal zones and grounds property of the state.
In the areas destined for the tourist development located in indigenous regions, one will have to be provided with the due approval of the traditional regional corresponding authorities.
Paragraph: The authorizations that are granted in grounds of property of the State on continental and insular territory by virtue of this article, will not affect possessory existing rights that have been granted by the municipalities and by the corresponding authorities, before the entry in validity of the present Law.
