Nicaragua: Credit Card Taxes

The government is studying charging 1% on each credit card transaction and making it deductible from the Income Tax (IR).

Friday, October 9, 2009

This was confirmed by Alberto Guevara, who added that "It is not a new tax. Businesses accepting credit cards will have to do their Income Declaration anyway, and then this 1% will be deduced from the Income Tax disbursement".

"The head of the Ministry insisted this proposal is being analyzed in order to include it in the Tax Reform Project, which would be sent to the Legislative before October 15th...", reported La Prensa de Nicaragua.



More on this topic

Bill to Require Retailers to Accept Credit Cards

August 2014

A A bill presented in Costa Rica aims to improve tax controls by forcing merchants to accept payments with credit and debit cards.

The bill introduced in the Legislature by the Ministry of Finance, entitled "An Act to improve the fight against fiscal fraud" includes other initiatives such as the imposition of a sales tax on property rentals of less than one month duration.

Guatemala: Entrepreneurs and Government Debate Tax Act

May 2013

Both sides are discussing three articles of the Tax Update Law, but so far have failed to reach an agreement.

According to Andres Castillo, president of the Chamber of Industry of Guatemala (CIG), one of the items that is causing disagreement is related to the payment of income tax (ISR) on the tips received by service companies.

Tax Reform Being Prepared in Nicaragua

June 2012

The government intends to review current tax exemptions for several productive sectors.

With the expressed purpose of broadening the tax base and reviewing existing tax exemptions for various sectors, the Minister of Finance, Ivan Acosta announced that a tax reform bill is being prepared.

Nicaragua: Businesses Need More Fiscal Reform

February 2012

Business leaders see the government’s tax reform bill as insufficient and analysts suggest including more sectors in order to stimulate economic activity.

The Superior Council of Private Enterprise (COSEP) has stated that the tax reform bill that the government has sent to the National Assembly, was not consulted on with the private sector and they consider it "inadequate", reports El Nuevo Diario on its website.

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