Panama: Recent Economic Developments
September 6, 1996
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This paper provides background information to the IMF staff report for the 1996 Article IV Consultation discussions with Panama. It presents an overview of economic developments in Panama during 1995, focusing on areas of interest in Panama’s medium-term economic strategy. It describes the changes in labor legislation aimed at increasing labor market flexibility. The paper summarizes developments in the tax system, focusing on the changes brought about by the Tax Incentives Harmonization Law of June 1995. The issues confronting the Panamanian social security system are also described.
Subject: Banking, Economic sectors, Imports, Income and capital gains taxes, International trade, Labor, Public sector, Tariffs, Taxes
Keywords: capital gain, capital goods, CR, enterprise, flat rate, free zone, Imports, Income and capital gains taxes, income tax, ISCR, Public sector, savings bank, severance pay, Tariffs, tax credit, tax rate, U.S. dollar, Western Hemisphere
Pages:
118
Volume:
1996
DOI:
Issue:
082
Series:
Country Report No. 1996/082
Stock No:
1PANEA0011996
ISBN:
9781451830781
ISSN:
1934-7685
