Nicaragua announces tax reform

The Government did not provide details on how it plans to modify the tax collection system, but made the commitment to the IMF that it will increase revenue from tax collection.

Tuesday, August 26, 2008

Tax law expert, Julio Francisco Báez, said that the reform will not only seek to increase collection, but to stimulate investment and eliminate anti-exporter biases. Bayardo Arce, Presidential Economic Advisor, spoke of removing tax exemptions from various sectors as they are considered to be "excessive."

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Nicaragua: Tax Reform On The Horizon

July 2009

A so called "tax pact" will be hurried by the Government, after pressure from the International Monetary Fund.

"We must discuss this, we must be aware of the fact that in 2010 this will impact economic performance, and this is why it is being analyzed by the Superior Council of the Private Enterprise", indicated Bayardo Arce, Presidential Adviser in economic matters, in an article in newspaper "La Prensa de Nicaragua".

Nicaragua: Tax Exemptions for SMEs

December 2014

Exemption from VAT and income tax for SMEs operating under the fixed quota regime will be retained in the Tax Act Coalition whose reform is being proposed by the Executive.

There are about 200,000 small and medium enterprises (SMEs) operating under the so-called fixed quota regime, contributing 40% to gross domestic product (GDP).

Nicaragua: Tax Reform Would Affect Agriculture

August 2009

Agricultural companies stated their concern in the first meeting they held to analyze the Government's proposal.

Growers will be affected by the possible increase from 1% to 2.5% in retention to transactions done through Agricultural Exchanges, said Felipe Argüello, general manager at Bolsagro, the Agricultural Products Exchange.

Nicaragua Postpones Tax Reform

May 2009

The business sector and the Government agreed to the postponement of the tax reform for two years in order to stimulate productive activity.

President Daniel Ortega addressed the need to have a good discussion on the issue and reach a consensus.

Leonor Alvarez wrote in an article in "After a four-hour meeting, Ortega said that tax coordination will begin to be planned in October because he believes that there will be a clearer picture during the last three months of the year on world economy trends, which is the basic agent in determining tax policy."

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