Honduras: Rate Rise for Shrimp Farmers

The rate for concessions has increased from $5 to $40 per hectare under production, according to the new Law on Strengthening Shrimp Production.

Monday, May 26, 2014

The law passed by Congress in January this year and which entered into force on April 11, establishes as a ease term for areas for setting up and carrying out projects for shrimp farming, a period of twenty years, renewable for similar periods, and the fee per hectare under production is $40 per year.

"There are 18,500 hectares under production, which means revenues to the treasury of $740,000 in respect of taxes (L15, 5 million). The 23,500 hectares of land in the Gulf of Fonseca, licensed to the shrimp farming industry, will generate $940,000 per year, equivalent to L19, 5 million. "

"Article 3 (of the law) ... provides that nonproductive concession areas pay a fee of $5 per acre. There are an estimated 5,000 acres that are not under production, representing income from taxes of $25 thousand (L525 thousand). "

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