In the country, the business sector expects an increase in operating costs in the coming months, as a result of the expected increase in the price of electricity in the short term.
The possibility that the United States will not renew tariff preferences for Nicaraguan textiles at the end of the year is forcing the industry to prepare changes to their production schedule.
Although there is a possibility that the United States will grant an extension of the benefits of the Tariff Preference Level (TPL), if they are not renewed, starting January 1st, 2015 the Nicaraguan textile sector may no longer sell to United States products made from raw materials from countries that are not part of DR-CAFTA.
Companies are preparing for the process of tariff reduction for imported goods and services from the United States under the FTA.
Starting 2015 various products will be able to come into Nicaragua from the U.S. tax free. Employers are now preparing for the tariff reduction process of the Free Trade Agreement between the U.S., Central America and Dominican Republic (DR -CAFTA).
Entrepreneurs are unaware of new judicial courts especially dedicated to solving conflicts or disputes in this matter.
The entity was created a year ago and is responsible for resolving complaints and appeals related to tax and customs matters generated against institutions such as the Directorate General of Customs (DGA) and the Department of Revenue (DGI) .