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New Definition for Wholesale activity

The enactment of Panama-USA free trade agreement has requested the modification of several national and traditional legislations. As an example, a significant change has been performed to the definition of Wholesale business.

By means of Law 62 of 2012 the definition of wholesale business has been changed to: 

  1. Service delivery with the exception of any previously service considered as retail  
  2. Sales to government entities including government companies  
  3. Multiple services delivery in accordance to the agreed on the Free Trade Agreement with the United States of America and as long as the following criteria is fulfilled: 
  • A minimum investment of 3 million dollars
  • The business must perform the sale of goods but also provide a service within the same commercial establishment.

       4. Any other activity that is not considered as retail activities.


Lic. Eduardo Achurra


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