The Panamanian Government recently approved a bill that
establishes an incentive program to recover and promote the
conservation of natural forests. This bill is aligned with the
objectives of the UN Sustainable Development Goals to conserve and
restore the use of terrestrial ecosystem to sustainably manage
forest, combat desertification, halt and reverse land degradation
and biodiversity loss.
This bill recognizes the following tax incentives, that apply to
owners and tenants of private lands, and concessionaires of
state-owned lands:
- Income tax exemption on property
registered in the Forestry Register that maintains and/or increases
reforested areas, in relation to net profits resulting from its use
in accordance with the Forestry Management Plan submitted and
approved by the Panama Environmental Office.
