Among the measures for increasing commerce in the Colón Free Zone approved by the Ministry of Commerce and Industry, companies in the Free Zone will be able to open retail sales branches in the Casco Antiguo area. ITBMS and capital tax incentives are also said to be part of the package.
“The full National Assembly approved on its third reading Bill No. 222, which amends and adds articles to Law 29 of December 30, 1992, for the effective implementation and operation of a Special System for the province Puerto Libre of Colón,” according to a statement issued by the Ministry.
The proposal aims to encourage Free Zone companies to remain in place, to attract new businesses, and to increase the competitiveness of the Colón Free Zone.