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Business leaders have doubts over Panama City’s plans to raise $4 million in taxes

Tuesday, January 18, 2011

Panama City aims to raise $4 million from a fiscal reform due to be launched April 1.

But the reform has caused concern among the business community. Business leaders claim that the increase in taxes can only be justified if city officials can raise efficiency levels.

Defenders of the city’s proposal claim that only 15 percent of companies will be affected by the new taxes.

Original source (in Spanish): La Prensa