Nicaragua: Return of Transfer Prices

Starting from June 30, the rules that oblige companies to report transfer prices are scheduled to come into effect.

Friday, June 9, 2017

At the beginning of last year, the date of entry into force of Chapter V of the Tax Concertation Law was postponed, after the business sector stated that it was not prepared to start complying with the rule.

Laprensa.com.ni reports that "...It is not known if the DGI is finally prepared to implement this complex regulation, but according to the president of the Higher Council of Private Enterprise (Cosep), José Adán Aguerri, at least theoretically, the companies that will be affected have been given training, but he did not specify whether they have carried out the studies required by this regulation. "I think that in the case of companies, they have done what was needed, what we should ask is how prepared the government is, in this case the Directorate General of Revenue and the unit that will be working on this issue."

"... Luis Corea, former president of the Nicaraguan Public Accountants Association, explained that once the regulation is put into effect, it is expected that the first study on Transfer Pricing will be made by the Tax Administration on operations and transactions carried out by the taxpayer from July 2017, and must be ready within the deadline for filing the Annual Income Tax Statement for fiscal year 2017, i.e. as of March 31, 2018 for ordinary fiscal periods."



More on this topic

Nicaragua: Transfer Prices Come Into Effect

July 2017

Although the rules started to be applied on July 1, a regulation has not yet been defined and approved to regulate the way in which the declarations will be made.

The business sector is working on a proposal for a regulation to be agreed with the government, and once it is ready, companies can start making statements. 

Costa Rica: Proposal for Transfer Pricing Law

December 2016

The bill proposed by the Association of Accountants is based on Mexican law and seeks to regulate commercial activities between related companies from one country to another.

Although there has existed a regulation since 2013, which establishes rules on transfer pricing in the country, the bill proposes to go beyond the provisions of the regulations and establish formal legislation on the subject, as exists in other countries.

Nicaragua: Transfer Pricing

November 2015

The upcoming entry into force of the tax rules on transfer pricing may take some Nicaraguan companies unawares.

An article on Elnuevodiario.com.ni reports that "... Most Nicaraguans companies are concerned about not being ready to cope with the entry into force of the Law on Transfer Pricing from the first of January next year. "

Honduras: Transfer Pricing Law Comes Into Effect

July 2015

It has been announced that in August the regulations governing transfer pricing will take effect and penalties will be imposed of $10 thousand to $20 thousand on companies that do not submit a declaration.

Companies that do not submit a declaration after three months after the entry into force of the regulations are subject to fines ranging between $10 thousand and $20 thousand.

 close (x)

Receive more news about Taxes

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Feb 26)
Brent Crude Oil
53.570
Coffee "C"
106.5
Gold
1,646
Silver
18.065