Honduras: Call for Monitoring of Security Tax

Employers are not opposing the tax, but say that its adoption should be supervised by the private enterprise.

Tuesday, May 24, 2011

Adolfo Facussé, president of the National Association of Industrialists (ANDI), said they have not been consulted on the implementation of the tax, to which they are not opposed, but argue that resources should be managed by private enterprise.

An article in Elheraldo.hn noted that "in this regard, the minister Renan Inestroza said it is good to know the businessmen’s opinion, which is why they are currently in the process of socialization and among all the doubts, concerns and suggestions, what must be completely clarified is how these resources are going to be managed”

More on this topic

Honduran Companies Migrate to Mexico and Nicaragua

March 2013

Harassment and a business climate of animosity in the country has forced 25 Honduran companies migrate to Mexico and Nicaragua.

Latribuna.hn reports that "15 of them moved to Nicaragua and the rest to Mexico to the Yucatan area, because they have found better conditions to invest and grow, therefore, the National Association of Industrialists (ANDI), is anlaysing setting up branches in these places in order to continue serving its members. "

Honduras: Businessmen Recommend Investing in Nicaragua

May 2012

Amid complaints of government harassment of private enterprise, its noted that in Nicaragua the costs are lower and "there are not too many obstacles."

Given some recent actions and tax proposals by the government of Honduras that have note been well received by employers due to their potential impact on business competitiveness, the president of the National Association of Industrialists (ANDI), Adolfo Facussé, is advising entrepreneurs to invest in neighboring countries, pointing in particular to Nicaragua.

Agreement on Changes to Security Tax

August 2011

The deal has almost been sealed between legislators and employers on the changes to be incorporated into the Law on Population Safety.

According to an article in Elheraldo.hn, representatives from the two sectors, "have fine tuned the latest proposal by economic activity, allowing them to project the amount of resources to be collected from the application of fees and charges"

Honduras: Businesses Opposed to Bank Tax

June 2011

The proposal to tax all banking transactions has been strongly rejected.

The government aims to create $79 million to combat insecurity, which would be financed in part with proceeds from a tax of 0.2% on all transactions carried out in banks.

Industry representatives believe that this measure is excessive and that not all transactions should be taxed, as the financial cost to businesses would be very high.

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