The most recent and relevant developments related to intellectual property (IP) in Panama have been the amendment of Law 35 of 1996 (Panama’s Industrial Property Law) through Law 61 of 2012, and the amendment of Law 15 of 1994 (Copyright Law) through Law 64 of 2012. These amendments have enabled Panama to update two laws that for many years were considered models for the...
Due to its central location, Panama’s economy is primarily based on a well-developed services sector, which accounts for nearly 83.4% of GDP. Services include the Panama Canal and its associated logistics hub, the Colón Free Trade Zone (CFTZ), banking, insurance, tourism and the international ship registry, health care and other economic sectors.
Panama utilises a territorial taxation system that levies taxes only on operations that take place or that have effects within the country’s territory. Income tax, in particular, is levied only on income that arises from a Panamanian source, regardless of the nationality or residence of the income recipient.
Despite a number of setbacks, Panama’s health care sector has seen significant advancement in recent years. The former administration of Ricardo Martinelli oversaw a period of significant infrastructure expansion, and the country is closer than ever to achieving universal coverage. Elected in May 2014, the current government of Juan Carlos Varela has stated its...
Despite notable achievements in the past decade, including reaching universal coverage at primary level, Panama’s education sector continues to face a number of challenges. Curricular reform introduced in 2010 has increased pertinence and retention rates. At the tertiary level, the strengthening of the accreditation process for universities has also brought about...
A shortage of skilled workers remains one of the most commonly voiced concerns of business professionals in Panama. The World Economic Forum’s (WEF) “Competitiveness Report 2014-15” lists an inadequately educated workforce as the second-most problematic factor in doing business in the country. With the skills shortage having an impact on the labour market, authorities...
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