Avoiding any confusion regarding the exoneration of taxes in favor of the Free Zones, motivated the deputies to approve today in the second debate, a project that clarifies that the companies located under said regime, will not have to pay even real estate taxes, nor land taxes.
The initiative is essential at a time when it is necessary to boost the economy and generate employment. The Coronavirus has left a serious impact, including possible unemployment of up to 20%, according to estimates by business chambers.
“For years there has been confusion between the real estate tax and the land tax, which after all have the same connotation; however, this exemption provided for this special regime for attracting investment and jobs is not currently applied uniformly in all municipalities and Free Zones,” said deputy Luis Fernando Chacón.
