Beverages: Taxes Still Not Reviewed

As a result of the tax reform implemented in February 2019, Nicaragua tripled the tax burden on imports of all types of beverages, and nine months later, businessmen are still waiting for the government to review the collections.

Monday, December 9, 2019

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."

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Nicaragua: Drinks Become More Expensive at the Beginning of 2020

January 2020

As a result of the tax reform implemented in February 2019, at the beginning of 2020 the prices of beverages increased, mainly soft drinks sold in plastic containers.

In February of last year, the Ortega regime approved the reform of the Tax Agreement Law, which consisted of increasing income tax from 1% to 2% for medium sized companies with higher incomes, and from 1% to 3% for large taxpayers.

Soft Drinks: Extension for Tax Payment

January 2020

Until January 13, 2020, the Sworn Declaration of Liquidation of the Selective Consumption Tax on Soft Drinks may be presented in Panama, corresponding to November 2019.

Law 114 dated November 18, 2019, which entered into force on November 19, 2019, establishes a new rate for the Selective Excise Tax on Soft Drinks, which is why the e-Tax 2.0 system was modified.

Charge for Beverages Entering Nicaragua

May 2019

Businessmen in Nicaragua denounced that because of the tax reform approved by the Ortega regime, the tax burden on imports of all types of beverages has tripled.

Representatives of the Nicaraguan Chamber of Industries (Cadin) explained that before the tax reform that was approved last February came into effect, importers paid the tax on the total cargo of beverages in each import, but now it was ordered that this must be applied on the retail price of each of these products.

New Tax on Sugary Drinks

February 2019

Despite the rejection of the business sector, a law was approved in Panama that establishes an 8% tax on imported and domestically produced sugared beverages.

The National Assembly reported that it approved, in the third debate, Law 570, which establishes a tax of 8% for domestically produced and imported sugary beverages and 10% for syrups and concentrates.

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