Honduras: 1% Tax on Income Confirmed

The Supreme Court has rejected a constitutional challenge filed by employers against the 1% tax levied on companies' gross revenue.

Friday, November 2, 2012

Latribuna.hn reports that "In April last year, Congress approved the legislation which amended Article 22 of the Income Tax Act, to improve government revenues, and the decree was issued on 31 May 2011 in the official Gazette. "

The reform to ISR in Article 22 added subsection (c), which entails the following: "Natural and legal persons domiciled in Honduras pay one percent (1%) of gross revenues for the tax period, when the application of the rates quoted in paragraphs a and b proves to be less than one percent (1%) of the gross income declared. This same one percent (1%) of gross revenues must be paid by people and companies who report losses at the end of the fiscal year. "



More on this topic

Costa Rica: No Corporation Tax In 2016

January 2016

Through a constitutional ruling, corporation tax will not be incurred by corporations, Limited Liability companies, Collectives, Individual Limited Liability Companies and branches of foreign companies.

From a statement issued by the Institute of Chartered Accountants in Costa Rica:

The Problems of Corporations Tax

May 2012

Lack of clarity in the text of Costa Rica’s law imposing a tax on corporations, is creating ambiguities and difficulties in collection.

The National Registry is experiencing many difficulties in implementing the collection of tax on corporations, because it lacks allocated funds to proceed, and the registry of MSMEs at the Ministry of Economy, Industry and Commerce (MEIC) is not very helpful because of its own shortcomings.

Corporations Tax Collection Starts

March 2012

Starting on Monday all companies enrolled in the National Registry of Costa Rica, must pay an annual tribute established by Law 9024.

The basis for calculating the new tax is 50% of a basic monthly salary, which is 180,300 colones ($357) in 2012, and 90,150 colones ($178.5) or half, for inactive companies for each year from January to December.

Tax On Registered Companies in Costa Rica

January 2012

A new annual tax applied to existing and new legally registered companies will become effective on April 1st.

Law 9024, the Company Tax Law, imposes a tax on all corporations, as well as branches of foreign companies or their representatives and individual limited liability companies that are registered or hereafter entered in the National Registry.

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