International Society of Primerus Law Firms

Panama: Law on Tax Credit for Tourism Projects

Quijano & Associates
Panama City, Panama

The president of the Republic of Panama sanctioned Law 122 on December 31st, 2019, by means of which investors who develop tourism products will be eligible for a tax credit.

This Law extends until 2025 the period for investors to request the package of incentives that are also aimed at promoting the construction of marinas, docks, airports, medical tourism; as well as outdoor activities such as luxury camps (a new trend known as ‘glamping’) that has taken boom in recent years.

The general information contained herein is intended for informational purposes only. It is not intended to be, and should not be construed as, legal advice or legal opinion on any specific facts or circumstances.

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