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

Guatemala: Drop in Cement and Mining Taxes In Effect

November 2015

The controversial taxes on the distribution of cement and mining royalties fell from $0.65 to $0.19 and from 10% to 1%, respectively.

With the publication of the new values ​​in the official newspaper La Gaceta, an end has been put to the doubts that arose in companies over the fact that it was not clear what were the correct amounts for each tax, after the Constitutional Court declared that the mechanism by which initially the new taxes were set was unconstitutional.

Revenue Statistics in Central America

January 2014

Tax revenues in relation to GDP increased in the Central American countries with the exceptions of Guatemala, where it fell, and Costa Rica, where it did not change.

A report entitled "Tax Statistics" prepared by the Organization for Economic Cooperation and Development (OECD), analyzes the behavior of tax collection in Latin America.

Honduras Ranked Last in Mining Investment

March 2012

Guatemala and Honduras are among the worst countries in the world in which to invest in the mining industry.

The Policy Potential Index (PPI) is a composite index, which measures how attractive countries policies are for developing mining projects. It is published by the Fraser Institute, whose vision is a free and prosperous world where individuals benefit more when they have more choice, when markets are competitive, and when there is greater personal responsibility. Its mission is to measure, study and communicate the impact of competitive markets and government interventions on people’s welfare.

Honduras: Mining Law Stuck at Congress

April 2010

The new mining law is not progressing in Congress as mining companies and environmentalists fail to reach a consensus.

This bill introduces environmental regulations a new income tax and raises municipal taxes.

Mining companies argue that the lack of clear regulation hampers the development of the industry, as there are no legal safeguards to invest.

 close (x)

Receive more news about Mining & Geology

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 26)
Brent Crude Oil
55.420
Coffee "C"
125.4
Gold
1,853
Silver
25.469