Panamanian Government presents bill to restructure property tax

By Global Law Experts

– posted 9 years ago

The project expands the base price for exemption from property tax. Currently the base price is US $. 30,000.00, and this new Law reduces the tax rate of the tax by taking it to the base price value of Us $. 120,000.00

It should be noted that properties in Panama maintain values in the market from US $. 90,000.00, depending on the size of the house, apartment, office or commercial space.

This is very helpful for the social sector, and it is equivalent to that the commercial sector also benefits to maintain the balance of real estate prices in the Panamanian market.