Nicaragua: New Law on Free Zones

The new legislation extends the tax benefits enjoyed at current export processing zones, to free trade zones in other sectors such as logistics, outsourcing and agricultural exports.

Friday, October 9, 2015

From a statement issued by the National Assembly:

The legislative approved on October 8 the draft Reform Law Decree Nº46-91 "Export Processing Zones".

The 28 articles of the bill establish: the purpose, definition, location and security of the zones; plus benefits, administration and operation of Free Zones Corporation; the scheme under which the operators and users of c ompanies in Free Zones work ; and the creation, incorporation of members and mandate of the National Commission of Free Zones.



More on this topic

Guatemala: Free Zones Situation Gets More Complicated

May 2016

It has been reported that one of the 17 free zones operating in the country has started the process of closing its operations entirely due to the legal uncertainty generated by the emergent employment law.

Companies operating in free zones have spent several months denouncing the serious situation they have faced since the Emergent Act for the Conservation of Employment was implemented, instead of encouraging investment and job creation, it has become a good example of how to discourage investment in a country.

Free Trade Zones: Economic Hypocrisy

June 2015

If free zones -with their tax breaks and other privileges- are good for the economy, why isn't the entire country made into a free zone?

EDITORIAL

Why not provide companies founded with Central America capital the same benefits and privileges enjoyed by foreign firms operating under free zone regimes? The job creation and contribution to the economy that can be made by companies in free zones because they enjoy these privileges should be able to come from business founded with Central American capital as well, which in contrast to foreign firms, have to deal with excessive regulations and bureaucracy in the States of Central America.

Costa Rica: Municipal Taxes for Free Zones

May 2014

The Constitutional Court is examining an appeal by a mayor against the exemptions from municipal taxes for companies operating under the free zone regime.

The constitutional motion filed seeks to eliminate Article 20 of the Law on Free Zones, which exempt from tax capital net assets, property and land transfer fees for a period of ten years from the commencement of operations.

Free Trade Zones in Costa Rica: 5% Tax

April 2009

With the reform to the Law on Free Zones, the country is adapting its legislation to WTO rules.

On Tuesday, the Executive Branch presented draft amendments of the Law on the Free Trade Zone Regimen (7210), which amends five items in the current law, to the Legislative Assembly.

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