Business Leaders Approach City Council On Municipal Tax Increase Issue

Business Leaders Approach City Council On Municipal Tax Increase Issue

Thursday, January 20 2011 @ 12:38 PM EST
Contributed by: Don Winner
Views: 53
Representatives of the Chamber of Commerce, Industries and Agriculture of Panama, the National Council of Private Enterprise, and the Panamanian Association of Business Executives attended the meeting of the City Council (of Panama City) on Thursday to discuss with the council adjustments to Agreement No. 162, which provides for new taxes on businesses. The businessmen insist on the repeal of Decree No. 162 because this measure was inconsiderate and unnecessary, and therefore affects the most humble Panamanians. (Dia a Dia)
Editor’s Comment: Business leaders are digging in their heels on this municipal tax increase. After President Ricardo Martinelli took garbage collection away from the Municipal Government, the City Council immediately turned around and issued a massive tax increase for all businesses operating in Panama City. Why? They need new sources of money to steal – that’s why. Anyway, the business leaders are getting organized and they are flat-out rejecting this tax increase. All this week there has been a back and forth between the two sides, with the business leaders demanding that it be repealed and the Municipal Government saying “there’s no going back.” It’s going to come to a head soon, and I already predicted a “tax revolt” a few days ago. Let’s see how this plays out. My prediction is that eventually the existing tax increase as it exists now will go away, and it will be replaced by something a little less onerous.

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