Residents get new tax, casinos get a cut

Panama's National Assembly has approved a reduction in tax for casinos while approving a new tax for users of telecommunications services.

On third reading of Bill 421 ithe tax on casino machines dropped from 19% to 18% and tax on gross revenues  for full service casinos down from 12.5% to 12%. 

The president of Panama’s Chamber of Commerce Federico Humbert,said on the one hand the government wants to sell the land of the Free Zone for more funds, on the other it reduces the tax on casinos. 

The Assembly approved on third reading (38 votes in favor, 5 against and zero abstentions) the establishment of a rate of 0.5% to finance the burying  of cables in  five locations. 

Opposition deputies criticized the decision  which will affect  800,000 residents  whose vizualy polluting cables will still be in place, and  there were allegations that the President would benefit says La Prensa

.No government deputy defended the project in full, but Ricardo Valencia told reporters that 0.5% represents only 13 cents extra each month for a contract.