Reforms to Tax Law in Nicaragua

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

Thursday, January 23, 2014

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).

"Employers, however, are not able to hand over any more taxes to the government, than what they pay already. There is no more (ability to give). "

"Our tax commission was instructed to review the approach we received from the Government about the issue of the tax code and, of course, what the new amendments to the Tax Act Coalition will be, which we will probably be dealing with in the middle of the year."

More on this topic

Pessimism Over Tax Reform Review

July 2019

In the government's review of Nicaragua's tax reform that has been in place since February, businessmen consider that no tax cuts will be made, even though production costs in the country have risen considerably.

After the approval on February 27, 2019 of the amendment to the Tax Concertation Law, which consists of raising from 1% to 2% the income tax for medium sized companies with higher income, and for large taxpayers from 1% to 3%, the productive sector has reported increases in its production costs.

Plans for Fiscal Reform in Nicaragua

April 2018

The Government and the private sector have started negotiations to create a proposal for fiscal reform, which could include, among other things, changes aimed at achieving the financial sustainability of the Social Security scheme.

Without revealing details of the first sessions, the Higher Council of Private Enterprise (Cosep) reported that the reform negotiated with the authorities is focused on preventing insolvency of the Nicaraguan Social Security Institute and guaranteeing the country's economic growth.

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.

Nicaraguan Businessmen Reject Tax Reform

April 2009

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

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

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