The business sector is opposed to a bill which aims to regulate interest rates on bank and nonbank loans, including credit cards.
In the opinion of the private sector the usury bill that is being promoted by the executive branch "... contradicts the laws governing financial activity."This is the view of the Honduran Council of Private Enterprise (COHEP), who presented several comments on the text to the Presidential House and Congress .
Canadian businessmen will be visiting Tegucigalpa on 23rd and 24th of February to explore opportunities in the food and renewable energy sectors.
The trade mission, organized by the Embassy of Canada, will be held on the premises of the Honduran Council of Private Enterprise (COHEP) and with the support of the Honduran Association of Renewable Energy Producers (AHPER) reported Latribuna.hn.
The Supreme Court has not ruled in favor of the union of private companies, which sought to suspend the collection of income taxes of 1.5%.
Businessmen from different sectors showed their discontent after the Supreme Court rejected the appeal by the Honduran Council of Private Enterprise (COHEP) and announced that the collection of the (ISR) tax will remain in place.
The private sector has denounced that on top of the negative effect of the new tax of 1.5%, are delays in the payment of $19 million in tax refunds.
Added to this is the cost for companies of undergoing tax audits required by the Executive Directorate of Revenue (DEI) to justify their financial position and request an adjustment in the payment of 1.5% of income tax to be paid by those generating sales of over $456 thousand.
The Constitutional Court has rejected the constitutional challenge presented by the business sector and left in place the collection of 1.5% income tax.
The Supreme Court has confirmed the income tax of 1.5%, which applies to companies reporting net sales of over $456 000, leaving exempt from this charge those reporting lesser incomes and those with less than two years of being established.
Despite the corruption scandals that tarnished the policy in Guatemala and Honduras, Honduran businessmen say the project of to unify the border posts at the end of the year is still moving forward.
Amid strikes, marches and demonstrations which have taken place in Guatemala and Honduras, working groups composed of representatives of the private sector in both countries and the government have not stopped working, as reported entrepreneurs like Maria Antonia Rivera, from the Chamber of Commerce and Industries of Cortés.
Honduran textile companies are not prepared for the total elimination of industrial exclusions demanded by Peru in the negotiation of the trade agreement.
The textile sector represents 20% of the items to be negotiated in order to close the FTA deal with Peru. This negotiation focuses on issues relating to rules of origin of threads and a request by Peru to eliminate industrial exclusions.
The Honduran Council of Private Enterprise has pointed out that the Framework Law on Social Protection System "threatens sustainability of businesses and harms labor competitiveness in the country".
From a statement issued by the Honduran Council of Private Enterprise (COHEP)
The Honduran Council of Private Enterprise (COHEP) has been asserting for more than ten years the need for a comprehensive reform of social security, for this reason it congratulates President Juan Orlando Hernandez, for taking the initiative to completely overhaul the social security system in Honduras
Less complex administrative systems and a simplified tax system are the requests made by the private sector to the government in order to improve the country's competitiveness.
In order to improve competitiveness and the business climate, the Honduran Council of Private Enterprise has asked the government to simplify the tax code and streamline public procedures. "...The aim is to ensure the economy will grow and allow the State to collect resources in order to meet its obligations. "
Business leaders say that amnesties on tax debts are an unjust punishment for companies that meet their tax obligations on time.
Private enterprises have criticized the inconsistency of state powers who on the one hand are seeking to increase revenue and on the other, reward and promote the culture of "no pay", stating that tax amnesties do not benefit the country. They are also demanding tax simplification in order to encourage investment establishing clear and stable tax provisions.
In the first quarter of the year diesel and gasoline consumption decreased by 19% and 21% respectively compared to the same period in 2013, revealing the extent of the decline in economic activity.
In the first three months of the year fuel imports decreased by 12% compared to the same period in 2013, according to reports from the Central Bank of Honduras (BCH), reflecting slower economic growth, as confirmed by representatives of private enterprise.
The new law creates investment opportunities in clean energy estimated at $1 billion for the next 4 years.
The new law "allows for the liberalization of the energy sector, modifying the scope of the National Electricity Company (ENEE), an institution that is the target of government creditors having operated with a deficit for the last four years."
Exporters are complaining because customs clearance procedures at the port terminal which used to be completed in three days now take 20.
Ever since Operadora Portuaria Centroamericana assumed control of operation of the cargo terminal at Puerto Cortes, the processes for inspections and unloading have delayed goods by considerably more days than before, raising costs for exporters and importers, who have to wait up to 20 days to take their products out of the port.
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Key representative/s from the Guatemalan Exporters’ Association last 13-15 October attended the 8th TPO Network World Conference to exchange ideas and best practice around stimulating export-led economic growth and meeting the urgent challenges in the sector.