Honduras: Tax Amnesty Denied to Micro Enterprises

The private sector in Honduras is protesting that the tax amnesty will not benefit small entrepreneurs .

Tuesday, May 14, 2013

In a letter sent by Mario Bustillo, director of the Chamber of Commerce and Industry of Tegucigalpa (CCIT) to the Finance Secretary, Wilfredo Cerrato, the official explained that persons and corporations whose declared gross income was lower than $1.57 million were excluded from the amnesty.

According to Article 2 of the decree: "... persons or corporations, with gross income in the statement of income tax equal to or greater than $1.57 million and which have not been subject to tax audits or to date have not been notified of an audit, during any of the periods from 2008 to 2011, are eligible for this tax adjustment, having to pay 1% of gross income. "

According to the notice by the CCIT, this measure benefits exclusively medium and large taxpayers leaving out small business, who are those who make up most of the tributaries to the treasury.



More on this topic

Costa Rica: Return of Corporation Tax

April 2015

With the new bill the aim is to redeploy the payment of corporation tax, which was declared unconstitutional and suspended in January.

The new initiative seeks to resurrect the creation of the tax, fees and penalties, redefining the criteria for their application. However, there are Members who do not support this measure, who assert that is mostly affects small and medium enterprises.

Honduras: A Tax on Gross Sales

June 2014

1.5% of total gross sales must be paid even if the company does not generate profits.

As provided for in Article 22-A of the Act on Public Finance Planning "... all companies with earnings of 10 million Lempiras ($480,000) per year must pay 1.5 on their gross sales even if they have had losses."

Honduras: The Fiscal Adjustment and its Effect on the Export Sector

January 2014

Employers claim that the increase in sales tax has repercussion on the entire production chain, affecting their international competitiveness.

On the issue of exports, prices are practically set by the international market, meaning that agricultural exporters will have to implement new measures to become more efficient, in order to allow them to keep competing internationally.

Credit of up to 100% for Tax Equipment

September 2011

Panamanian businesses with turnover of less than $36 thousand a year will have access to a tax credit for up to 100% of the value of the equipment.

The credit is for the purchase of a single piece of equipment whose price can not exceed $850.

With the new regulations to be included in the amendments to Bill 375, the General Directorate of Income is trying to alleviate the economic impact for micro businesses.

 close (x)

Receive more news about Taxes

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Dec 4)
Brent Crude Oil
49.010
Coffee "C"
117.00
Gold
1,840
Silver
24.235