Taxes on Textiles and Footwear Companies in NicaraguaThe amendment to the Law on Tax Coalition sent by the Executive to the Assembly repeals the exemption from VAT on domestic production of clothing and footwear.Thursday, November 27, 2014
If the reform is approved, SMEs in these sectors will be the most affected "... as it states that they must pay Value Added Tax (VAT) and also orders that they withhold income tax, through an unclear mechanism within the fixed quota system. " Source: laprensa.com.ni ¿Busca soluciones de inteligencia comercial para su empresa?Nicaragua: Clothing Market DecreasingOctober 2018 Imports of footwear and clothing fell 8% in the first half of the year compared to the same period in 2017, and production in the country contracted by around 30%. Consumption of Value-Added Textiles in JapanMarch 2016 High potential for online shopping in China has brought up opportunities for segments such as bathing suits, where 60% are imported products.
Nicaragua: Optimism in Textile IndustryFebruary 2016 Despite the challenges facing the Central American textile industry with the coming into force of the TPP and Asian competition, projections are that there will be growth of 8% in 2016.
Nicaragua: Tax Exemptions for SMEsDecember 2014 Exemption from VAT and income tax for SMEs operating under the fixed quota regime will be retained in the Tax Act Coalition whose reform is being proposed by the Executive.
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