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Higher taxes and rents threaten Colon Free Trade Zone

Wednesday, March 28, 2012

A proposal to raise taxes and rents in the Colon Free Trade Zone in Panama has the country's economists concerned.

If taxes and rents go up, the zone will lose its competitive advantage among the free trade zones of other countries, said Raúl Moreira, president of Panama's School of Economics.

Furthermore, operational costs would go up, and that would affect the entire country's business environment, added Moreira.

Source (in Spanish): La Estrella