The Federation of Livestock Associations of Nicaragua (Faganic) welcomed the decision to reduce the limit for incurring income tax, believing that it will be an incentive to reduce smuggling of cattle and allowing more to be exported through the formal market.

Solon Guerrero, director of Faganic, told Laprensa.com.ni that "... Before tax was calculated based on $800 and around $34 was paid per head regardless of size. Now it is based on 1.87 dollars, if the animal weighs 200 kilos, $10 is paid," said Solon Guerrero, director of Faganic. According to Guerrero the decision is a commitment on the part of the authorities to the free market, because now tax will be paid based on the actual price of each animal. He reiterated that producers are still selling cattle to whoever pays the best price. "

Source: laprensa.com.ni

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