Regulations on Tax Law Repealed in Nicaragua

The Government has abolished the regulations of the Tax Coalition Law which created new taxes and fiscal measures.

Friday, February 21, 2014

Jose Adam Aguerri, head of the Superior Council of Private Enterprise announced that the regulations on the Tax Coalition Law will be canceled by the Government of the country.

"President Daniel Ortega signed an order repealing the controversial decree 06-2014 containing the regulations. The repeal will be effective upon its publication in the official newspaper La Gaceta."

"the tax reform had provoked criticism from some quarters against the Government because of the arbitrary creation of new taxes, such as those affecting transactions made on the agricultural exchange."

"... The great achievement of the repeal will be that companies will not have to pass on the fiscal costs to the end price of products which will benefit consumers," said Aguerri.

More on this topic

Nicaragua: Tax Increase for Non-resident Investors

December 2014

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.

According to Juan Sebastian Chamorro, executive director of the Nicaraguan Foundation for Economic and Social Development, the new reform "...

Private Sector Against New Tax Charges

February 2014

The union of private enterprises in Nicaragua is opposing the amendment to the Law on Tax Coalition.

The Superior Council of Private Enterprise showed its opposition to the reform of the Law on Tax Coalition. The head of the union, José Adán Aguerri said "we will file a constitutional appeal against decree 06-2014, and amendments and additions to this Law, published last week."

Reforms to Tax Law in Nicaragua

January 2014

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: 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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