By means of Executive Decree No.75 of December 26th of 2017, the new minimum wage was approved by the Panamanian government.
The new rate hikes up the wages by an approximate percentage of 6.5 that will be enforced depending on the commercial activity developed.
Therefore, the new minimum wages to be paid will be within the range of US$318.24 and U$925.59, per month, when the previous ranges were of US$303.68 to US$869.00
The wage adjustment will enter into force since January, 2018.
We strongly recommend applying the new regulations since the government has informed that administrative sanctions will be applied in case of infringement of this Executive Decree.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.