20 year property tax exemption extended
sduford on Apr 16 2008 at 6:35 pm | Filed under: Building in Panama, Panama
Good news! The 20 year property tax exemption in Panama just got extended so I will be able to take advantage of it!
By DON WINNER for Panama-Guide.com - Today Law 21 of 15 April 2008 was published in the “Official Gazette”, and specifies a change to Article 81 of Law 6 of 2005, saying “Those improvements whose construction permits were issued before 1 July 2009 will enjoy twenty years exoneration from Property Tax, as long as the improvements are inscribed in the Public Registry before 31 December 2011. The exonerations granted by this article will be conceded upon the date of inscription (in the Public Registry) or the issuance of the occupancy permit, which ever comes first.” So, with that the very popular 20 year tax exoneration has been extended, yet again. Good news for anyone looking to buy property in Panama. Wanna buy a condo? Credit for spotting this goes to Juan Ramón Vallarino …
