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Panama: Incentives for Reforestation

A bill put forward by the executive branch proposes tax breaks and direct non-refundable financing for implementing restoration or reforestation plans.

Wednesday, February 22, 2017

From a statement issued by the Presidency of Panama:

The Cabinet has endorsed a bill that aims to encourage increased forest cover and promote conservation of natural forests in the country, through the promotion of activities inherent and necessary for efficient management of the forest.

Both goals are part of the Alliance for One Million Hectares which is now part of the country's commitments to combat climate change, and through which a country wide goal has been set to reforest, over a period of 20 years (2015-2035), one million hectares in Panama.



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Panama: Incentives to Forestry Sector Extended

The Assembly approved extending to the forestry sector a program of fiscal incentives, such as exemption of income tax, real estate and introduction, among others.

Tuesday, August 8, 2017

A few months after finalizing a series of prerogatives for forestry activities, the full legislature approved, in a third debate, extending this program of fiscal incentives, in order to meet the objectives of the Alliance for the Million Reforestated Hectares and the Sustainable Development Objectives 2030.

The Bill is number 469, which creates an incentive program for forest cover and conservation of natural forests.

The forest incentive program will benefit from the following activities: natural forest conservation, assisted natural regeneration, restoration of natural forests, agroforestry systems, sustainable forest management of natural forests, commercial forest plantations, processing of timber and non-timber forest products, nurseries, research, Forestry development and innovation.



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