Tax Exemption for 16 Imported Products Eliminated

In Nicaragua, the tax exemption that benefited the import of products such as canned sardines, prepared soups, toilet soap, rubber gloves, among others, was eliminated.

Thursday, August 1, 2019

With this change, the products concerned will be applied the Import Tariff Rate (DAI), which is a tax contained in the Central American Import Tariff and is applied to products from countries outside the Central American region, on the value of them, the taxes have variable rates that can range between 5% and 15%.

According to Agreement 017-2019 signed by the Ministry of Development, Industry and Commerce, it was decided to modify the Ministerial Agreements MIFIC 079-2008 and its reforms established in MIFIC 009-2009 and 016-2009, and 027-2009, related in recital V of the present in the following terms:

The official document specifies that the following products are excluded "... from the referred Agreements: Canned sardines, prepared soups, body deodorants and antiperspirants, toilet soap, hand lamps, toothbrushes, plastic gloves, rubber gloves, masks, refined peanut oil, refined olive oil, refined sunflower oil, refined cotton oil, refined coconut oil, refined almond or babassu oil, and refined corn oil."

The Agreement explains that "... This Ministerial Agreement shall enter into force on the twenty-fifth day of July in the year two thousand nineteen...".

See full Agreement.

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