Honduras: Changes to Tax Code

A proposal has been made to include new revenue figures, notify companies via email and to make audit processes simpler.

Thursday, January 7, 2016

The bill that the Executive Directorate of Revenue has under public consultation envisages changes in the mechanisms through which requests are received or delivered as well as notices regarding tax payments. Laprensa.hn reports that "... According to the document, these notifications will have as much legal weight as personal ones, via public or private mail, message boards, or hearings either in person or electronically. "

"... Maria del Carmen Jovel, tax technical assistant of the Ministry of Finance explained that the government team considered the main problems for the taxpayer. 'There will be a lot more transparency because sometimes the auditor does not tell the employer what critical points have been found. Deadlines and timeframe is also set to issue a resolution.'"

"... 'The document does not introduce new taxes, rather new collection methods. Among them, the days when the Executive Directorate of Revenue (DEI) will work, in this way opening up broader work sequences," explained Julio Cesar Larios, a consultant at ASECAP, a firm which provides legal advice."

More on this topic

Payment of Taxes: Flexible Deadlines in Panama

March 2020

Extension of deadlines for the payment of taxes and flexibility in the submission of income tax returns by natural and legal persons are some of the measures that the authorities will implement in the context of the Covid-19 crisis.

With no details on the new deadlines that will be required of taxpayers, the Ministry of Economy and Finance (MEF) reported that the measures are contained in Executive Decree 252 of March 24.

Tax Equipment to be Deployed Progressively

August 2011

Panamanian authorities have announced that the implementation of tax equipment in the province of Panama will be made gradually being completed by December 1.

A press release from the Ministry of Economy and Finance of Panama reads:

The implementation of fiscal equipment in the province of Panama will be made gradually, being completed by December 1, said Luis Cucalón, Director General of Revenue at the MEF, following the adoption in first debate on the draft law which amends some related tax measures in Law 76 of December 22, 1976 and Law 62 of October 15, 2010 by the Legislative Commission of Economy and Finance.

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.

Latin American Tax Information Agreement Sought

April 2011

The project aims to encourage information sharing in order to strengthen measures to prevent money laundering by the drug trade.

Argentina's tax authority (AFIP in Spanish), proposed that a multi-lateral tax information agreement be implemented, which could be adopted by Central American countries and others in Latin America, if it is approved by the Inter-American Tax Administration Center (CIAT in Spanish).

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