Nicaraguan Businessmen Reject Tax Reform

The Superior Council of Private Enterprise, COSEP, considers that this is not the time to negotiate a tax reform.

Friday, April 17, 2009

José Adán Aguerri President of COSEP, reported that within the current economic context, fiscal reform would not be a response to alleviate the difficulties.

Cristhian Marenco referred to statements by the entrepreneur in an article in Elnuevodiario.com.ni: "This is not the time for tax reform. This is not the time for constitutional reforms because the tax issue is not something that can be addressed quickly and lightly, much less during this crisis. It is essential to increase the number of taxpayers. It is important to reduce informality and for formality grow, which would mean greater revenue because more people would pay than those who are paying at the moment."



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With the reform to the law on Tax Concentration non-resident investors in the country will have to pay 15% instead of 10% on income earned from capital.

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Reforms to Tax Law in Nicaragua

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Topics related to tax increases and the fiscal industry are to be addressed in the revision of the law.

In mid-2014, the process will start for a new amendment to the Law on Tax Coalition. Everything related to aspects of tax industry will be reviewed, the issue of bonuses and more technical issues "that are part of the process that must be continuously developed," said José Adán Aguerri, president of the Superior Council of Private Enterprise (Cosep).

Nicaragua: Exemptions and Tax Exonerations

August 2012

The projected tax reform is a battlefield for the competing interests of the various productive sectors.

Both the Superior Council of Private Enterprise (COSEP) and the Union of Agricultural Producers of Nicaragua (UPANIC), are in favor of excluding the agricultural sector from the discussion of tax reform, meanwhile the National Workers Front (FNT) and the Nicaraguan Council of Small and Medium Enterprises (Conimipyme), reject such a position as discriminatory.

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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