The Honduran president has sanctioned a decree eliminating the 15% Sales Tax on over 180 basic food products.
Juan Orlando Hernandez, president of Honduras, has enacted a decree that eliminates the 15% Sales Tax (ISVs) on more than 180 products in the basic basket. This is expected to be published soon in the official newspaper La Gaceta.
The authorities at customs offices in Guatemala and Honduras have opened new routes for regional transit of goods between the two countries.
The aim of the opening of new routes at the borders between the two countries, in El Florido and Agua Caliente, is to streamline regional trade which has been blocked because of the protests over the application of a fee of $18 in Salvadoran customs offices for X-ray inspection of trucks.
State institutions will enable a single desk to exclusively receive documents and perform procedures to obtaining tax benefits.
From a press release by the Government of Honduras:
The decree was presented by the president and appointed by the Minister of the Presidency, María Antonieta Guillén, who explained that they have instructed offices of public administration dealing with requests for waivers and customs exemptions within their offices to enable a single desk exclusively for receipt of documents and processing of these matters and to give them human, material, and technological equipment and the all logistical support and transportation for immediate inspections of businesses or organizations for processing as required.
The new tax has been created by the Mexican government in retaliation for the suspension for health reasons on Honduran exports to the Mexican market.
The suspension of exports from Honduras to this country were put in place because of the threat of entry of early mortality syndrome (SMT by its initials in Spanish), which has caused great losses in the Mexican states of Sonora, Sinaloa and Nayarit.
In a few weeks there will be an announcement of the arrival of the first shipment from Petrocaribe, but there are still no buyers interested in the fuel.
According to the coordinator of the Energy Cabinet, María Antonieta Guillén, "next week the scope will be defined somewhat, after which perhaps in the last week of August and first week of September there could be a shipment of fuel which Honduras would receive ".
Foreign sales of Honduran plastic products totaled $241.8 million dollars in 2011, 14% more than in 2010, when the total was $211.2 million.
"In terms of export volume, the president of the Agexport Plastics Commission, Rolando Paiz, said they were 8,767 metric tons, 6,122 more than the previous year, which is equivalent to 7%," reported LaPrensa.hn.
100,000 tons could be imported by the government to cover shortfalls in the coverage of domestic demand of about 3 million quintals.
The Ministry of Industry and Commerce (SIC in Spanish) is studying the import of 100,000 metric tons of unprocessed rice to cover the deficit recorded in the coverage of domestic demand, which could reach approximately 3 million quintals in 2012.
The government will not accept the increase in cement prices for 2012 announced by the construction sector.
Sector representatives from the country's chamber of industry and construction (Chico in Spanish) claim that the $0.48 price rise is due to the devaluation of Honduras' currency as well as increasing energy and fuel costs.
In 2009 $25.7 million was paid for franchising licenses and international licenses, increasing to $30.4 in 2010.
The results of a study conducted by the Central Bank, the Ministry of Industry and the Tourism Institute, indicate that from January to June 2011, companies paid $15.2 million by way of franchises and the figure for the end of the year is expected to be $32 million.