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Unit 4. Investments and incentives - Coggle Diagram

- - - - It establishes a simple, quick and rational process for the development of tourism activities in Panama and grants incentives and benefits to persons engaged in tourism activities.
- - - - Total exoneration for a term of 20 years of the import tax.
      - Real estate tax exemption for a term of 20 years.
      - Exemption of the company from all taxes on its capital.
      - Exemption from payment of wharfage tax and any landing tax on docks, airports or heliports built by the company.
      - For the computation of depreciation of real estate, a rate of 10% per annum will be allowed, excluding the value of the land.
    - - Real estate tax exemption for a term of 20 years.
        
        Exoneration of import tax for a term of 20 years
        
        Exoneration of income tax, including ITBM for a term of 20 years.
        
        Exoneration of income tax on interest accrued by creditors.
    - - Exemption of 100% of the introduction tax of all means of transportation that are exclusively destined to provide service within the tourist activities.
    - - The total deductibility of the amount invested by individuals and legal entities in the maintenance, restoration and illumination of historical monuments is established.
- - - - Panama's financial system is characterized by specific advantageous features, making it an important financial center with an International Banking Center of the first magnitude.
        
        The free flow of funds, the absence of requirements for capital registrations, the absence of taxes or restrictions on funds entering or leaving the country, the absence of controls on the repatriation of capital or profits, the absence of taxes on interest earned on savings or fixed-term accounts, the granting and protection by law of bank secrecy, the granting of the service of code accounts, the free circulation of foreign currencies due to the virtual absence of its own currency (the US dollar functions de facto as such), the granting and protection by law of banking secrecy, the granting of the service of encrypted accounts, the free circulation of foreign currencies due to the virtual absence of its own currency (the US dollar functions de facto as such) are some of the enormous advantages offered by the banking center protected by the aforementioned law and some recent agreements.