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Resumen Forma

CLD Insights

New Minimum Wage Rates in Panama

Recently, Executive Decree No. 1 was published, establishing the new Minimum Wage rates in Panama. These rates include a 4.5% increase for small businesses, a 6.0% increase for large businesses, and a 7.0% increase for companies in the banana sector. These new rates will be effective starting January 16, 2024.

Click to see details (only available in spanish)

➡️ For inquiries and further information, contact our specialists in Corporate and Business Law at 📩


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