Press Room

PN: Panama intents to raise tax on sugary drinks

February, 2019

Last Wednesday, Panamanian Congress approved Bill #570 that would create a tax applicable to local and foreign manufactured sugar beverages at a rate of 8%; and 10% for syrups and concentrates used in the production thereof.

Likewise, it is established that the earnings from this new tax would be used for the purposes established in Law 51 of 2005, which regulates the Social Security in Panama. The amount collected would be distributed as follows: (i) 35% for the Ministry of Health; (ii) 25% for the National Oncologic Institute; (iii) 15% for the Public Diabetic Patient Clinics; (iv) 15% for the Ministry of Education; (v) 5% for the Ministry of Agriculture; and (vi) 5% to the Ministry of Commerce and Industries.

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