The President of the Republic, Juan Carlos Varela, proposed to eliminate the payment of the Tax on Transfer of Movable Property and Services (ITBMS) to Panamanians who buy in Colón Puerto Libre.

The measure was announced during the Cabinet Council held in the province of Colon on Tuesday. The president indicated that he spoke with the Minister of Commerce and Industries, Augusto Arosemena, the Minister of Economy and Finance, Dulcidio De la Guardia, and the colonized deputy Miguel Salas to present the reforms to the law of Colón Puerto Libre and completely exonerate the payment. of ITBMS to Panamanians to ‘ensure the total success’ of the area.

The president said that this way it seeks to encourage that Puerto Libre Colón becomes a shopping destination. He explained that even if the income of the ITBMS is not perceived, this does not compare to the prospect of Colón Puerto Libre becoming a successful project and a destination for purchase.

For the president, the idea is that the reforms to the law will be presented on July 1, when the last legislative period is installed.

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