Taxes Doubled on Mining Investments in Honduras

The tax rate for domestic and foreign investors in mining has increased from 3% to 6%-7%

Thursday, August 15, 2013

"Between six and seven percent was the amount finally passed in Congress, at the time of the approval MPs in the National Congress were determined to raise the tax rate, resulting in companies paying even more now than specified in the original project ," said the chief of the Department of Natural Resources and Environment (Serna), Rigoberto Cuellar.

The measure, according to Cuellar, is comparable to the situation in the rest of Central America therefore it does not mean that companies are less competitive.

The decision "was not liked by the mining companies, especially the Miners Association who made certain observations because they strongly disagreed," explained the official.

More on this topic

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