Livestock Sector Affected by Tax ReformIn Nicaragua, ranchers claim that as a result of the tax reform and the inevitable increase in production costs, they have had to increase the slaughter of female cattle by 4%, putting at risk the growth of the cattle herd.Monday, December 2, 2019
After the approval on February 27, 2019 of the amendment to the Tax Concertation Law, which consisted of raising income tax from 1% to 2% for medium sized companies with higher income, and for large taxpayers from 1% to 3%, the livestock sector has reported considerable increases in its production costs. Source: laprensa.com.ni ¿Busca soluciones de inteligencia comercial para su empresa?Do you need more information about your business sector?Request more information: Need assistance? Contact us
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More Meat Sales, Fewer Live CattleFebruary 2021 In recent years, Nicaraguan beef exports have been on the rise due to the improved quality of the product, but foreign sales of live cattle have been declining due to the deterioration of trade relations with Venezuela. Nicaragua: Increase in Number of Birds DenouncedJanuary 2020 Businessmen in the sector say that for the last two years the theft of livestock and illegal slaughtering of animals has been on the rise. Livestock: Bad Times in NicaraguaMarch 2019 The barriers imposed by the Honduran and Panamanian markets, coupled with the negative effect of the recent tax reform, force Nicaraguan cattle ranchers to predict a bleak future. Nicaraguan Livestock Sector Exports Increase 30%July 2010 In the first six months of the year foreign sales of meat, dairy products and livestock from Nicaragua reached $234.5 million.
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