On February 27, 2019, the amendment to the Tax Concertation Law was approved, which consisted of raising from 1% to 2% the income tax for medium sized companies with higher income, and for large taxpayers from 1% to 3%, the livestock sector has reported considerable increases in its production costs.

You may be interested in "Beverages: Consumer Trends and Preferences"

The other amendments decreed by this law are that beverage importers now pay taxes on the retail prices of each of the products. According to the businessmen, in the past the amount paid was calculated on the basis of the volume of the cargo.

Faced with this situation, for several months the businessmen have asked the authorities to review these charges. Carmen Hilleprandt, president of the Chamber of Commerce and Services of Nicaragua (CCSN), told Laprensa.com.ni that "... so far there has not been a response from the government, even though they have insisted on reviewing the tax burden."

Hilleprandt added that "... It hasn't turned out yet, they told us they are working on it but nothing, today we haven't had an official response, at the beginning they said yes (they were going to reverse the charge), but still not done."

Source: laprensa.com.ni

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