Refund of VAT Charged on Imported Goods

Nicaraguan companies affected by duties paid on imports of several products for family use may request a return of VAT already charged.

Thursday, January 17, 2013

The president of the Superior Council of Private Enterprise (COSEP), Jose Adán Aguerri, stated that President Daniel Ortega will sign an erratum revoking the charges built in to the tax reform passed last year.

"In the case of imports that were made and on which taxes were paid, a request will have to be made for a refund or credit of such taxes, that's a situation we have agreed with the Government and in that sense it has been negotiated and agreed", added Aguerri.

Laprensa.com.ni reports that, "Countries such as El Salvador and Guatemala had expressed his disagreement with the collection of tax on some products and Nicaragua threatened to denounce them to international trade organizations."



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More on this topic

Nine Months to Refund VAT to Exporters  

March 2015

In El Salvador the export sector claims that delays of up to nine months are being reported on tax refunds due from the Treasury, which should take no more than 30 days.

Seven months ago the Exporters Corporation of El Salvador (Coexport) submitted to the Ministry of Finance a proposal for self-assessment of Value Added Tax (VAT) with the aim of reducing the time it takes to receive tax refunds.

Self Assesment for VAT in El Salvador

March 2013

A proposal has been made for a self-assessment system which aims for the government to quickly provide refunds of the 13% VAT to exporters.

Elsalvador.com reports that "in light of the government's failure to repay on time the 13% Value Added Tax (VAT) to export companies, the same companies, unionized under the Corporation of Exporters of El Salvador (Coexport ), have decided to create their own proposal in order to quickly get back the funds which belong to them. "

Nicaragua Removes VAT from Central American Products

January 2013

A Nicaraguan business leader announced that its government will maintain equal tax treatment for products imported from countries in the region.

The affected Central American employers expect the Nicaraguan government to sign the rectifying documents as soon as possible so that the Directorate General of Customs can stop collecting the tax from today.

New Fiscal Rules Effective in Nicaragua

January 2013

On January first new rules came into force on taxation which reduce income tax, and others that aim to reduce tax evasion.

The government hopes that with this new reform it will increase productivity and competitiveness.

"The law brings new issues, such as a fiscal method for separating of incomes: into earned income, income from economic activity and income from equity.

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