As of October 1st the Social Security Institute will exempt up to 100% of charges for payments in arrears.
Agreement Number 1270 by the board of the Social Security Institute (IGSS), will run for 15 months and allows for the exemption of 100% of charges for payments in arrears, defaults, administration costs and interest.
"... Employers with outstanding obligations to the IGSS will receive the exemption only if they pay the principal due or sign an acknowledgment of the debt with the institution," writes Lorena Alvarez in Elperiodico.com.gt.
The Superintendence of Tax Administration (SAT) estimates that $ 449 million is owed in taxes and $ 256 million in penalties and interest.
However, it clarified that the SAT estimates viable to recover only 10% of that amount, about $ 45 million, through a partial exemption declared by President Alvaro Colom.
The waiver, implemented through the 1946-2011 government decree, grants a 95% exemption for taxpayers who pay their back taxes before March 31, 90% if done in April, 85% between May and June and 75% if between July and August.
Contributors who are behind in their payments will be charged neither fees nor interests.
The amnesty applies for taxes related to construction permits, public services, real estate, industry and commerce, and other related to municipalities.
Ada Muñoz, from the municipality of San Pedro Sula, called on citizens to get up to date in their taxes, by taking advantage of this benefit, which runs from April 22 to September 30.
A tax amnesty, discussed by the Executive, congressmen and the private companies could be shortly approved in Congress.
Honduran businessmen, represented by Cohep (Honduran Private Enterprise Council), consider that the measure would stimulate people and companies to pay their taxes.
“This amnesty does not forgive what is owed in taxes. It comprises installment plans to pay surcharges, fines and moratory interests”, reported La Tribuna.
The Executive, Congress and delegates from the private enterprise are analyzing a possible tax amnesty.
They are also considering various initiatives to make the country climb out of the economic crisis.
Congressman Toribio Aguilera explained that this tax amnesty would benefit “those taxpayers who have been unable to pay due to the crisis, and now accumulate too many fines and charges”.
The law proposal allows debt covenants of up to six months to pay taxes owed.
Tax debtors choosing to use this plan will have to pay at least 30% of their total tax debt.
From the La Estrella website: "The law proposal is presented by the Economy and Finance Minister, Alberto Vallarino ... it aims to reduce late payments, which now stand at $1.1 billion."
The Treasury Department is considering a one-time-only tax amnesty extension.
Treasury Minister Carlos Cáceres noted that, as the new terms expire, an efficient system of applying fines on the interest of debtors will be implemented.
Laprensagrafica.com published statements by Minister Cáceres: "... A restructuring of the Tax Code is being requested so that a more appropriate collection period can be established."
The Honduran Congress will approve a tax amnesty law in the coming days that will be in effect for the entire month of July.
During this period, taxpayers who are behind in their tax payments may make their payments without any late interest fees.
A Tiempo.hn article stated that “taxes owed in San Pedro Sula are upwards of $42 million (800 million Lempiras). Authorities believe this amount will be greatly reduced though amnesty."
In an effort to increase tax collections, El Salvador's Finance Department has offered tax amnesty to past evaders in hopes that they will pay up in the future. The government hopes to collect an additional 25 million dollars with this strategy.
Finance Minister William Handal said the measure will be published in the Official Gazette this week and will take effect at once.