Honduras closes in on new mining law that aims at 44 percent tax

Honduran legislators will today renew debate on a new mining law that aims to tax 44 percent of companies' revenues, said Arnoldo Avilés, chairman of the Congressional Mining Commission.

Monday, July 21, 2008

"We've been reaching a consensus over the new law during the last year and a half, and by now all its major parameters are in place," Avilés said.

More on this topic

New Mining Law Approved in Honduras

January 2013

Congress has approved a new mining law which eliminates all tax shields for mining companies.

For seven years the country has had an incomplete mining law, as in 2005 the Supreme Court struck down 13 items of this legislation, among which were items relating to the collection of taxes on mining companies.

Restrictions on Metal Mining in El Salvador

August 2012

Draft legislation presented by the Ministries of Economy and Environment has temporarily suspended procedures related to exploration and metal mining.

A statement from the Legislative Assembly of El Salvador reads:

The legislatative assembly has received a bill requesting the suspension of exploration and metal mining in El Salvador.

Honduras Returns to Discussion of the Mining Law

May 2011

In the face of mounting interest to attract investments, congress is revisiting the debate on the new Mining Act.

The law, which previously stalled in congress for lack of reconciliation of interests between business and environmentalists, contains among the most important issues, the elimination of all tax shields for mining companies.

Honduras: Mining Law Stuck at Congress

April 2010

The new mining law is not progressing in Congress as mining companies and environmentalists fail to reach a consensus.

This bill introduces environmental regulations a new income tax and raises municipal taxes.

Mining companies argue that the lack of clear regulation hampers the development of the industry, as there are no legal safeguards to invest.

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