Honduran Tax Exemption System to be Revised

The legal framework for the operation of franchises needs to be improved, said the head of the Revenue Office, Armando Sarmiento.

Monday, August 4, 2008

A study by the institution found that between 2002-2008 the State lost $2.3 billion (44 billion lempiras) due to tax exemptions granted to more than 30 religious organizations, fast-food entities, NGO's, and maquildoras (export assembly plants).
"The (new) tax exemption law is set up so as to give the government and the Congress the authority to review the exemptions, every so often, in order to determine their rationality; I am not, however, seeking to demonize tax exemptions because their main objective is to promote investment."

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Panama: Exemptions and Subsidies to be Reviewed

October 2015

Noting that the country´s tax burden is only 10% of GDP, the Minister of Finance has announced a review of 110 laws on subsidies, exemptions and distribution of resources.

Evoking the Panamanian commitment to achieve the Sustainable Development Goals of the United Nations for the elimination of poverty, the minister Dulcidio De La Guardia has emphasized the need to increase tax revenues, which in Panama are "...

Elimination of Tax Exemptions in Costa Rica

March 2015

The Ministry of Finance has announced the sending to the Legislative Assembly of a bill which eliminates 220 different tax exemptions.

The bill already has the signature of the president, Luis Guillermo Solis, and besides eliminating 220 tax breaks also establishes penalties for those who enjoy them without a right to do so.

Honduras: Tax Breaks End for 11,000 Businesses

April 2013

Any company who hasn't justified its tax incentives and benefits will stop enjoying them from April 1st.

From a press release issued by the Presidency of Honduras:

Government announces that 11,000 businesses will no longer enjoy exemptions for failure to submit supporting documentation.

Honduras: Companies Not Paying Taxes

July 2010

Financial Secretary, William Chong Wong, has listed the companies that, whether due to exemption or evasion, do not pay tax.

According to the online publication Revistazo.biz, “the Financial Secretary has stated that the companies listed benefit from indemnities that other Honduran business do not”.

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