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Boquete - 15 Htas - off Main Road to Boquete |
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| 15 beautiful Hectares 1 block of the main road to Boquete, just on the half way point from David and Boquete. With beautiful mountain... |
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ARTICLES |
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Panama Toursim Law #58
May 4, 2008
by Gaceta oficial
To view copy of the Tourism incentive law as published in the Gaceta Oficial visit this link:
http://www.selectpanamarealestate.com/tourism_law_58_Panama.pdf
in a nutshell:
This Law was created as law #58, in december 28 2006,to promote tourism proyects in Panama.
This law covers hotels, related activities, apart-hotel, cabañas, hostel, and time shares.
Ley #58 incentives' are extensive spill over to cover toursim proyect related activities such as golf courses, tennis, saunas/spas - gyms, discos, restaurants Conv. Centers and boat marinas, as long as they are integrated and retlated into the hotel industry investments.
The principal benefits and incentives of this law include:
1. 20 years import tax exoneration on materials and equipment necessary for the development of the project.
2. 20 years income tax exoneration including the gains from the sale of real estate used for the development of the project and any improvements. The 20 years begin from the date of the inscription into the Tourism National Registry.
3. 20 years capital gains tax exoneration, including interests gains.
for a PDF of the law in spanish:
http://www.selectpanamarealestate.com/tourism_law_58_Panama.pdf
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