Guatemala Studies Tax Hike

The Government could raise the Income Tax (IDS) to 6% and the Solidarity Tax (ISO) to 2%.

Tuesday, November 3, 2009

The proposal is being analyzed by a group of presidential advisers and the Ministry of Public Finances.

"ISO currently charges 1% over gross sales or net assets of a company...", reports Elperiodico.com.gt. "Another option being considered is raising the Income Tax (ISR) from 5% to 6%...".

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New Fiscal Rules Effective in Nicaragua

January 2013

On January first new rules came into force on taxation which reduce income tax, and others that aim to reduce tax evasion.

The government hopes that with this new reform it will increase productivity and competitiveness.

"The law brings new issues, such as a fiscal method for separating of incomes: into earned income, income from economic activity and income from equity.

Honduras: Income Tax Increase In Effect

June 2011

With the publication in the official daily newspaper, a 1% increase on income tax (ISR) comes into force.

The amendment to the income tax law adopted by Congress applies only to companies with revenues in excess of $529 thousand (10 million lempiras). The increase will be applicable for the fiscal year beginning in 2011.

Honduras: Increase to Income Tax Approved

April 2011

The 1% increase in the country's tax on income (ISR in Spanish) will apply from the beginning of the 2011 new tax year.

The reform to Honduran income tax law was approved by congress and only applies to companies with revenue above $529,000.

Finance Minister, William Chong, told LaPrensa.hn that, "the reforms do not affect salaried workers...

El Salvador Broadens Tax Base

August 2010

With a view to increasing tax revenues, the treasury has presented a plan to broaden the country's tax base.

If the proposal goes ahead, from January 2011 the minimum amount subject to tax on income will be reduced from $316.67 to $209.52.

"According to the Treasury's draft document, employees earning between $209.52 and $316.67 (who are not currently required to pay tax on their income) will have withholdings applied to their pay from 2011. The proposal also suggests getting rid of income tax returns, under the assumption that employees will be taxed exact amounts," writes Daniel Choto for Elsalvador.com.

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