Panamanian authorities have announced the scrapping of a 5.5% tax on winnings from table games and betting. The measure aims to attract foreign players and boost tourist arrivals that have declined in recent years for this niche.
The Gambling Control Committee, known as the Junta de Control de Juegos or JCJ, under the Ministry of Economy and Finance, made the announcement. Officials described the step as a way to make Panama more competitive with Caribbean and U.S. destinations that do not impose a similar direct tax on players.
The 5.5% tax was introduced in 2015 by the previous administration. It applied to cash redemptions and winnings at casinos, bingo halls, slot machines and sportsbooks.
