The amount paid to the Tax Authority corresponds to unpaid taxes, plus penalties and interest.
An article on Lahora.gt reports that the Superintendent of the SAT, Juan Francisco Solorzano, said that "... It is the largest payment made by any entity, in relation to adjustments that had been made or that had been ordered as a result of a judicial process from which it was ruled that there was tax fraud or tax evasion. "
In exercising its responsibility as the main active force in Panamanian society, the Chamber of Commerce, Industries and Agriculture is demanding that the branches of government and its authorities correct their behavior, and serve purely national interests.
After the optimism over the lukewarm reduction in the continuous increases in the primary deficit of the government of Costa Rica, comes the harsh reality of the growing amounts for interest payments on the debt, which continues to increase.
The Panamanian company whose emissions were suspended in September 2014, has amended the terms of its bonds for $8 million, extending the deadline to 2019 and agreeing to pay principal and interest in tracts.
From the resolution issued by the Superintendency of Securities:
A request has been made that the interest rate paid by the government for using funds from the Pension Trust Bond rise from 1.3% to 7.5%.
Elsalvador.com reports that "... The leaders of the Committee requested yesterday that a new article specifically state that pension funds earn the passive base interest rate used for investments of 180 days and published by the Central Bank plus 3.5% .. . which ... it considers fair in relation to the payment made by the government to other international investors to lend them money. "
The balance of debt authorized to finance the 2015 budget was issued in three tracts with maturities of ten, twelve and fifteen years, with rates of 6.99%, 7.19% and 7.38% respectively.
After declaring the auction held last week void, the Ministry of Finance has finally managed to place the balance of the debt issuance authorized by the Congress. Due to the conditions demanded by investors, the government had to adjust rates to levels below those offered in the auction of the first part of the issue.
While there is a clear need for a long term, consistent and sustained policy in Costa Rica, corporate and business interests are staging a war which is impeding the development of the Digital Government.
An article on Crhoy.com highlights the main concepts dealt with in a recent eLAC forum (Building inclusive and innovative digital societies in Latin America and the Caribbean), and reviews the current status of Costa Rica's digital agenda, which currently has as its central theme a long conflict between state agencies over which Government procurement system should prevail, and which of these departments should rule on the issue.
The Legislative Assembly of El Salvador has approved a temporary law which allows debtors to the state to apply for a payment plan of up to six months.
Debtors who request the payment plan within 90 days can enjoy this benefit which exempts them from penalties and interest. This decree is intended for individuals and businesses that have experienced conflict in paying the taxes required by law.
A bill on preferential interest rates suggested by the industry would reduce the cost of a home loan by up to 50% and boost construction in the country.
In order for the construction sector to recover from a 2013 that ended with a negative number it is necessary to reduce interest rates on mortgage loans so that more people are able to buy a home, therefore the business sector is recommending a proposal for a law on preferential interest, which was proposed more than six years ago.
During the last twelve months the returns given by state banks to their clients for savings in colones rather than dollars decreased by 2.6 % .
A financial report by the Central Bank of Costa Rica (BCCR) explains that "the data shows that the average differential in savings with a term of six months, closed at 1.46 points in September. But that margin was four points in the same period of 2012 ... ", reported Nacion.com.
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