Honduras: Alleged Income for Liberal Professions

"There are people with annual expenditures over $ 150,000, but only declare $ 26,000 in income" stated the Executive Director of Revenue (DEI), José Oswaldo Guillén.

Tuesday, January 11, 2011

With regards to the tax evasion and fraud plan announced in December by the Secretary of Finance, William Chong Wong, starting the first day of January the method of alleged income to individuals in liberal professions will be applied.

According to Kelssin Vásquez in his article in Elheraldo.hn, the Executive Revenue Director, José Oswaldo Guillén, declared, "We started with the analysis of consumer behavior. There are people with annual expenditure of three million Lempiras, but only declare half a million in revenue. It is not possible to declare this type of income tax amount, when they own two houses in the city and another one at the beach. In addition, they travel every year to the U.S. and their children attend bilingual schools. We know that many of these professionals have three cars of brands like Mercedes Benz, Toyota Prado and BMW in their garage at home. Living well is not a sin but you have to pay taxes correctly. There are doctors who have their office, a private clinic and also work in the Social Security Institute or the School Hospital. Their tax filing is made for half a million Lempiras. There are cardiologists who charge 500.000 Lempiras for a single heart surgery."

Other measures which DEI is putting in place is the obligation of large firms to invoice sales electronically, conduct a national tax census in February, as well as continuing with the publication of delinquent debtors in the DEI website.

More on this topic

Honduras: Reduced Tax on Card Purchases

June 2011

In order to stimulate consumption, the Government is giving back 8% of the tax on sales made by credit card or debit card.

The refund, which will take place automatically, applies to all purchases made with credit or debit cards for goods or services subject to sales tax.

Honduras to Modernize Tax System

April 2011

With the aim of encouraging tax-payers to comply with their obligations in a timely manner, an Internet based tax payment system has been introduced.

Payment, sending in tax forms or submitting queries are some of the new services that Honduras' tax authority (DEI in Spanish) have made available online to make it easier for tax-payers to carry out these tasks.

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...

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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