Tax Rebate Agreement with EU  

The Council of Ministers of Economic Integration of Central America has until November to ratify the tax refund mechanisms governing the import of European goods.

Wednesday, October 22, 2014

The entire Central American region must have the same system of tax refunds on Import Customs Duties (DAI) from August 1, 2015, as established by the Association Agreement (AA) between Central America and the European Union (EU).

Martin Portillo, executive secretary of the Council of Ministers of Finance of Central America, Panama and the Dominican Republic, told that "... Not having a Customs Union in the region is increasing the complexity of the issue because it means that there needs to be negotiations, agreements and coordination of customs administrations of the six countries. "

José Carlos García, technical coordinator of the regional program to support Central American economic integration and the implementation of the AA, added that "... what is being designed right now is the presentation, analysis and appropriate mechanism for reimbursement of ICDs , which was agreed in Costa Rica in April. "

More on this topic

Costa Rica: Bittersweet Results from Agreement with the EU

July 2016

Sales by Costa Rica to the EU have diversified because of the entry into force of the AACUE, but the value of exports has decreased and the trade balance is less favorable.

It is not only exports under the Association Agreement that have declined, going from $2,034 million in 2013 to $1,786 million in 2015, but the balance of trade surplus has also been decreasing as well. The surplus fell from $705 million in 2013 to $342 million in 2015, according to figures from PROCOMER.

Customs Union El Salvador - Honduras

July 2015

An agreement has been announced to create a system of refunds of the Import Duty Tariff, which is already working to ensure that the procedures in each border post are performed in a single office.

El Salvador has internally made progress on the process of customs integration with Honduras, which aims to establish a single post at the border crossing.

Croatia Could Join European Partnership Agreement

June 2014

At the first meeting of the Council of the European Partnership Agreement - Central America raised the eventual accession of Croatia and topics related to denomination of origin.

From a press release issued by the Ministry of Economy and Commerce in El Salvador:

On June 27, in San Pedro Sula, Honduras, held the first meeting of the Association Council, the highest institutional body of the Association Agreement between Central America and the European Union, to oversee the fulfilment of the objectives of the Agreement and its application. This meeting was held between Ministers and senior officials, under the trade part of the Agreement.

Tariffs Lowered on European Liquors

March 2014

The trade association agreement between Central America and Europe means a reduction in import tariffs on alcoholic beverages.  

With the entry into force of the Agreement between Europe and Central America (CAAA) comes a reduction in import costs, which in the case of champagne is a cut of 15%.

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