The liberationist Luis Fernando Chacón presented a bill that would serve to clarify or extend the existing exoneration to the special regime of free zones.
For years there has been confusion between the real estate tax and the territorial tax, which in the end have the same connotation; however, this exemption provided for in this special regime for the attraction of investment and jobs, is not currently applied uniformly in all municipalities and free zones,”
explained Chacón.
Therefore, the legislator proposes law 721 0 to be understood as follows:
Sole Article. -It is interpreted authentically the d) of article 20 of the Law of Regime of Free Zones, Law No. 7210 of November 23rd, 1990, in the sense that where it says “territorial tax”, it should be understood as “property tax” . Likewise, where it establishes “start of operations”, it should be understood as the “start date of operations established by the Executive Agreement for each request.” In all the rest, said subsection remains untouched.
The initiative intends to promote the economic reactivation of the country. With his bill, Chacón appeals to the special Free Trade Zone regime to encourage foreign direct investment (FDI), employment and international trade.