Tax breaks for PC hotel projects to end

Gabriel Rodríguez/La Prensa

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Investors interested in entering Panama City's hotel market are facing a deadline at the end of this month to qualify for tax breaks.

An incentive program being offered by the Instituto Panameño de Turismo (Ipat) will come to an end this month. Ipat offices will be open on Aug. 30, which is a Saturday, to accept any last-minute applications.

Ipat officials announced that while the program will come to an end in the city, it will continue to be offered in other areas.

Ipat Deputy Director Carl-Fredrik Nordström said this is being done to continue encouraging tourism development in other parts of the country, many of which lack sufficient hotel rooms to meet growing demand.