Pressure to Repeal Tax Measures

With the Nicaraguan authorities confirming that they will review the Tax Agreement Law again in 2020, the business sector is calling for the correction of several measures that have decapitalized companies operating in the country.

Tuesday, January 14, 2020

On February 27, 2019, the reform to the Tax Harmonization Law was approved, which consisted in raising income tax from 1% to 2% for medium sized companies with higher income, and from 1% to 3% for large taxpayers.

You may be interested in "Tax reform: Less Jobs"

For the next few months, the Tax Agreement Law is scheduled to be reviewed again, as Gustavo Porras, president of the National Assembly, and Ivan Acosta, minister of Finance, confirmed on January 9.

In this regard, the Association of Producers and Exporters of Nicaragua (APEN), believes that a new reform to the Tax Agreement Law should be made, and that the time should be used to review the most controversial aspects of this law that have most affected consumers and the productive sector.

Read full statement (In Spanish).

More on this topic

Does Costa Rica Need More Fiscal Measures?

April 2019

For the IMF, the country "may need additional fiscal measures, focused on the short term, to alleviate financing pressures and improve debt dynamics.”

After analyzing the current economic situation in Costa Rica, the directors of the International Monetary Fund (IMF) commended the recent fiscal reform, which is important to restore fiscal sustainability.

Why are the Elite are Interested in Fiscal Policy?

June 2013

Analysis of the evolution of fiscal policy in the isthmus, as a reflection of the reconfiguration and influence of the economic elite in the region.

The report "Fiscal policy, elite groups and the state in contemporary Central America" by the Central Institute for Fiscal Studies (Icefi), "recognizes how powerful the present elite groups are and how much influence they have in each of the countries.

Guatemala: Presidential Candidates Present Fiscal Policy

June 2011

The four candidates leading the polls, Otto Pérez Molina, Sandra Torres, Eduardo Suger and Harold Caballeros, have presented their fiscal policy.

Otto Pérez Molina of the Patriota Party, is urging the adoption of a fiscal pact, and said of tax increases, "During my administration we will have to consider whether an increase (in tax) is necessary or not."

El Salvador and the IMF

May 2009

"El Salvador’s financial system has weathered well the aftershocks of the global financial crisis and the uncertainties surrounding the elections, and remains liquid and well-capitalized."

A mission from the International Monetary Fund (IMF), headed by Alfred Schipke, visited San Salvador during May 18-27 to initiate discussions for the first review under the US$800 million precautionary Stand-By Arrangement, approved on January 16, 2009 (see Press Release No. 09/10). The mission had joint discussions with senior government officials and members of the incoming administration’s economic team, and also met with private sector representatives. At the conclusion of the mission, Mr. Schipke made the following statement:

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