Industry Faces More Difficulties in Nicaragua

Retention of raw materials by the authorities of Customs and charges to businessmen by the mayors, are some of the problems that are affecting industrial companies in Nicaragua, in addition to the crisis and the rise in taxes.

Wednesday, September 11, 2019

Directors of the Chamber of Industries of Nicaragua (Cadin) reported that companies in the packaging, beverage and dairy industries are the most affected by the withholding of inputs made by the General Directorate of Customs (DGA).

Another of the difficulties faced by companies in the sector is the collection by the mayor's office. Sergio Maltez, explained to Elnuevodiario.com that "... When people want to get their products out of municipalities, the mayors force them to pay taxes that are not in any collection parameter, that is happening and the businessmen denounce it.

You may be interested in "Tax and Minimum Wage Tension

Camen Hilleprandt, president of the Nicaraguan Chamber of Commerce and Services (CCSN), said that "... to remove or withdraw goods is a right that all citizens have 'without distinction, whoever, a good should not be withheld if taxes are being paid and if the company is up to date with its obligations."

These denouncements are reported in a scenario of deep political and economic crisis that began in April 2018, which has caused a sharp downturn in the Nicaraguan economy. This joins the tax reform approved in February, which raises from 1% to 3% the income tax of large taxpayers.

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