Environmental Incentives Law in Panama

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Law No. 223 of June 8, 2021 establishing environmental incentives.

This law establishes tax exemptions and incentives in environmental matters starting in 2022, in order to promote sustainable business practices, the reconversion of companies and the development of the recycling industry in Panama.

The law provides that legal entities specialized in the operation of industrial recycling plants that are duly endorsed by the Ministry of the Environment will be exempt, for a period of five years, from paying the following taxes:

1. Income tax
2. Dividend tax or participation fee distributed among national and international partners or shareholders.
3. Import tax on equipment and machinery required for manufacturing.

The obligation to submit an annual income tax return for informational purposes to the General Revenue Directorate of the Ministry of Economy and Finance will remain in effect.

For more information on this topic, please contact us at consultas@icazalaw.com .

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