Compared with other economies, the indicator measuring non-payment in the banking system is relatively small, with marked fluctuations in different sectors.
An article on Prensalibre.com reports that according to the Superintendency of Banks (SIB), the indicator for defaults in the Guatemalan banking system "went from 1.55% in May last year to 1.43% in the same month this year."
In Costa Rica the majority of MPs are opposed to the bill which would give the Treasury the ability to penalize delinquent taxpayers, a measure considered unique to the judiciary.
The Government will have to amend the draft law to improve the fight against tax fraud if it wants the Legislature to approve it. The opposition is mainly relted to the fact that the project would grant the ability to make charges and put in place embargoes without a court order, and there are also "... objections to tax advisers being made to pay part of the taxpayers debts, if the Administration considers that they gave the wrong advice."
The Directorate General of Revenue has announced that companies with tax debts more than twelve months old will be included in a list which will be published in March.
The Directorate General of Revenue has announced that it will publish, in the course of this month details of, "... taxpayers who have had outstanding accounts with the institution for more than a year." This measure is a result of low tax revenues being reported since late 2014.
Defaulters of the Honduran Tax system have been blocked from gaining access to the National Tax Registry (RTN in Spanish) and the Automated System for Customs Revenue in Honduras (SARAH in Spanish).
An article in Laribuna.hn reports that "The Executive of the Revenue Department (DEI in Spanish) this week launched the blocking of the National Tax Registry (RTN) to a hundred small, medium and large taxpayers who are tax defaulters, so that they can not carry out any commercial operations whatsoever. "
A dozen medicine suppliers plan to close operations because of the considerable delays in payment for services by the government of El Salvador.
"At least 12 companies, including medium and small sized ones, are planning to close operations in the remainder of this year due to a lack of working capital because of the government defaults that are already half a year late.
With the implementation of the statute of limitations, more than 1.6 million records have already been wiped.
Two years ago the Panamanian Credit Association began implementing the statute of limitations, which applies when a consumer so requests, seven years after having made the last payment on any commitments they had.
The law, enacted in 2002, states that the requirement also applies to consumers who haven’t finished paying or have not made any payments and have waited seven years.
There have now been seven consecutive months during which the default rate of borrowers from the Banco Nacional de Costa Rica has increased, having exceeded the normal limit of 3% over the past three months.
The increase in defaults is due mainly to problems with real estate projects in Puntarenas and Guanacaste, said Bernardo Alfaro, deputy general manager of the bank’s risk management office.
The Superior Council of Private Enterprise has complained to the government about unfair competition regarding the importation of eggs from Honduras, and the illegal actions of the “No Pago” movement.
The Superior Council of Private Enterprise (COSEP) has released a statement in which it expressed its “deepest concern at two events in the economic sphere which if not remedied by the government in a timely and accurate manner in the short-term could bring irreversible consequences of great magnitude for our immediate economic performance as a nation.”
Chicas Vilchez & Ruiz is a professional finance and accounting firm providing Auditing, Consulting, Outsourcing, and Tax services in El Salvador, Central America and the United States.
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