Nicaragua: Tax Exemptions Maintained

With the consent of the private sector, the government has announced that it will remove from the Tax Coalition Law the article which establishes an end to exemptions on December 31st this year.  

Thursday, November 20, 2014

The executive Power will this week present the law reform to the National Assembly, and it is expected that it will be approved before the end of the current legislative period.

Bayardo Arce, economic advisor to the President, said, "..." We will remove the article and we will continue exempting traders, so as not to have a problem in the economic management of the country which could create social problems for us. Economic operators will continue to be exempt here. '"

Jose Adan Aguerri, president of the Superior Council of Private Enterprise, told Elnuevodiario.com.ni that "... It is a reform that does not change the concept of the law that took effect last year, but there are a number of issues that have been worked on from the point of view of technical details, some situations have been corrected and others are improving. "



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September 2020

After the National Assembly modified the Law for the Promotion of Electricity Generation with Renewable Sources and its reforms, clean energy generators will be able to negotiate the lowering of current prices and in exchange they will receive five additional years of tax exemption.

The initiative, urgently submitted by President Daniel Ortega, exposes the voluntary negotiation process being carried out with electricity generators from renewable sources for the benefit of the Nicaraguan population and the country's economic sectors, the National Assembly reported.

Proposals for Special Economic Zones Law

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In El Salvador, it is proposed that the law discussed in the Assembly, considers the reduction of minimum requirements for investments made in special economic zones, to compensate for the disadvantages of lack of productive activity in the area.

In July 2018, the Executive Branch presented to the Legislative Assembly the draft Law on Special Economic Zones (LZEE), which is being analyzed by the Economy Commission.

Draft Law on Exports Ready

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The Nicaraguan National Assembly could be receiving a draft Law on the Promotion of Exports next week.

This was announced by Jose Adan Aguirre, president of the Superior Council for Private Enterprise of COSEP, who noted that the project aims to streamline procedures for exports and reduce trade barriers on all products the country exports.

Unions Opposed to Credit Card Law Reform

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Salvadoran private sector unions have expressed their opposition to state intervention in the market.

The new law, which sets a ceiling on interest rates for credit cards, is deemed to be a hindrance for the country's economy.

According to the Salvadoran Foundation for Economic and Social Development, Fusades, the reforms will result in reduced access to financing, they are therefore calling on President Mauricio Funes to veto the reforms.

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