Agreement on Changes to Security Tax

The deal has almost been sealed between legislators and employers on the changes to be incorporated into the Law on Population Safety.

Monday, August 29, 2011

According to an article in Elheraldo.hn, representatives from the two sectors, "have fine tuned the latest proposal by economic activity, allowing them to project the amount of resources to be collected from the application of fees and charges"

Last week the Supreme Court acknowledged a motion of unconstitutionality submitted by the Association of Industrialists.

Entities involved in developing the new proposal include the Honduran Council of Private Enterprise (COHEP), the National Association of Industrialists (ANDI) and the Honduran Association of Banking Institutions (AHIBA).

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The private sector has filed a constitutional complaint against Article 22-A of the Tax Act on income tax arguing that it distorts fundamental tax principles.

From a statement issued by the Honduran Council of Private Enterprise:

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Businessmen Reject End of Exemptions

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The Honduran Council of Private Enterprise is warning about a potential loss of competitiveness for companies investing in the country.

Through its president, Aline Flores, the COHEP (Honduran Council of Private Enterprise) is opposing a new tax package sent to Congress by the government.

New Tax Puts $300 million Investment In Doubt

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A new security tax, which aims to raise $80 million, calls into question a $300 million investment and could result in the loss of 15,000 jobs.

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