PANAMA

On September 29, the Board of Directors of the Colon Free Zone (ZLC in Spanish) published, through the Official Gazette, a resolution that establishes the regulations for the electronic exchange of information between the Free Zone and the user companies that operate land, sea and air cargo, including provisions on Courier Companies. Also, the resolution that established the procedure to ensure the traceability of the cargo in the operations of the user companies in the mentioned jurisdiction has been cancelled.  On the other hand, on September 29 the meetings of the Subcommittee on Trade and Economic Affairs that analyzes the bill that seeks to modify the legal regime of the ZLC ended. The text incorporates tax exemptions for activities such as e-commerce, among other aspects. The body will submit a report to the Committee so that it may proceed to vote on the bill in the short term.

The issued Regulation establishes provisions related to the procedures for goods entering by land, sea or air. Thus, it indicates that goods entered by courier companies must be registered in the Electronic Commercial Movement Declaration and be transferred to the warehouse. Those that are stored in the courier companies within the ZLC, and are not withdrawn by the consignee of the mentioned jurisdiction, may be considered abandoned after 3 months of their reception and will remain at the disposal of the National Customs Authority. The resolution is already in force.

Regarding the bill that modifies the legal regime of the ZLC, it establishes that the users of the Zone are exempted from income tax on the income derived from a series of activities. These include individual sales to nationals and/or foreigners through electronic commerce. Likewise, it is established that the merchandise and other articles or commercial effects that enter the ZLC will be exempt at all times from the payment of taxes.