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3.73. Exports of sea cucumber are also prohibited; Panama does not permit the extraction, possession or sale of sea cucumber.

Table 3.10. Exports subject to special control or procedure by the Panamanian Aquatic Resources Authority (ARAP):
Product; Procedure; Regulatory framework:
Polychaete worms (marine species); Export permit; Executive Decree No. 4 of 4 February 1997, J.D. Resolution No. 1 of 26 February 2008
Lobster tails; Approval by National Customs Authority (ANA); Executive Decree No. 15 of 30 March 1981, Resolution No. 1 of 26 February 2008
Shark fin; Export certificate for wet and dried shark fin; Law No. 9 of 16 March 2006, Resolution No. 2 of 10 February 2011, Resolution No. 2 of 10 February 2011, A.D.M./ARAP Resolution No. 022 of 10 February 2011, J.D. Resolution No. 006 of 14 April 2010, J.D. Resolution No. 45 of 29 August 2012
Black arks, clams, oysters, squid and octopus; Approval by ANA; ARAP Resolution No. 3 of 13 December 2007, Resolution No. 1 of 26 February 2008, J.D. Resolution No. 020 of 23 May 2012

3.81. (...) Companies eligible for the free zone regime are those engaged in the manufacturing, assembly, processing of finished and semi-finished goods, as well as high-tech, scientific research and higher education companies, and those offering logistics, environmental, health, and general services.

Table 3.11. Tax benefits, 2021:
(...)
Type of tax: Income tax
Promoter: Exempt
Company: Exempt: companies offering certain services [a] are exempt from income tax on their operations outside the free zone and on the operations among themselves
(...)
[a] Services such as: logistics, high technology, scientific research, higher education, general business services, health and environmental services.

3.84. Goods entering a free zone must comply with sanitary, health, environmental and other regulations required by the authorities for the rest of the fiscal territory.

3.89. (...) The Integrated Procedures Scheme (SIT), which acts as a one-stop shop, operates within the zone to facilitate customs procedures. [95]
[95] The institutions participating in the SIT are: (...) National Environment Authority (ANAM) (...)

3.101. (...) The Industrial Promotion Certificate (CFI) is a non-transferable tax credit valid for eight years, which a company can use to pay all national taxes, charges and contributions. As in 2014, the CFI may be requested by manufacturing or agro-industrial companies, or companies that process marine, agriculture and forestry resources, or invest in R&D and management systems, to invest or reinvest their profits in training and training human resources and to increase employment associated with production. (...)

3.103. All industrial (agro-industrial or manufacturing) companies established on Panamanian territory may be registered in the Official National Industry Register (RIN/ROIN) regardless of their size. The following companies may not be registered: companies established in a special tax or customs regime; communications companies (other than those developing high-tech goods); electricity- generating, transmitting and distributing companies (except renewable energy and co-generation for self-consumption); companies packaging or distributing a product (i.e. without an industrial transformation process); construction companies; and companies that exploit metallic mineral resources.

3.116. Panama offers tax incentives to stimulate production, promote exports or increase investment in certain economic activities and/or provinces considered to be in the public interest. (...) It also provides sectoral incentives, including tax incentives to support medicine and food production, banana production, reforestation, mining, renewable energies [161], the film and audiovisual industry, call centres, tourism, construction, and shipbuilding (section 4). Most sectoral incentives have not undergone any major changes since Panama's previous review in 2014.
[161] Law No. 41 of 2012 (electricity generation for public electricity service); Law No. 42 of 20 April 2011 (biomass); Law No. 44 of 2011 (wind power for public electricity service); and Law No. 45 of 2004 (hydroelectric power generation).

3.117. Since 2014, there has been a tax credit of PAB 0.60 per gallon on purchases of bioethanol and biodiesel made from domestic raw materials mixed with petroleum spirits and used as biofuel. This tax credit is in place as an incentive to produce and use biofuel and to generate electricity using biomass. The credit may be used only against the Consumption Tax on Petroleum-Derived Fuels (ICCDP) on fuels and petroleum products and is non-transferable.