Tax Credit for Exports in Nicaragua - CentralAmericaData :: The Regional Business Portal

Tax Credit for Exports in Nicaragua

The enactment of the tax reform offers exporters a grace period to enjoy a preferential amount on the payment of taxes.

Tuesday, February 12, 2013

Laprensa.com.ni reports that "the Law called ‘Concertación Tributaria’ (LCT), which took effect on January 1st, brings a number of benefits to the country's export sector, but also a number of obligations. It gives a grace period to enjoy a preferential amount for the payment of taxes, both for new exporters and entrepreneurs who already have trade links with other countries. "

Samantha Aguilar, part of the legal team at the Consortium Legal Taboada y Asociados notes that the LCT "states that the country's exporters will benefit from a tax surcharge of 1.5 percent, which will be calculated on the FOB (Free On Board) of exports, which is made applicable to the payment of income tax (IR) ".

This percentage (1.5) will be valid for six years, reduced to one percent from the seventh year, in the eighth year will be lowered to 0.5 percent and as the exporter reaches the ninth year the exemption reaches zero.



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