Following the entry into force of the Sign Law, agencies engaged in providing printed advertising services estimate that the cost of billboards will increase by 30% due to the new tax payments to be made to the municipalities.
According to the Assembly, the purpose of the Law is to establish the legal framework to regulate the advertising and propaganda carried out by means of signs located in the municipalities of the country, based on urban, suburban and rural planning and development, as well as technological advances.
An announcement has been made that the Legislature will resume discussion of approving the Signs Act, which aims to charge an annual tax on advertising signs installed on streets and roads.
As yet no date has been announced for the return to the discussion of the rules, but consultation is already taking place with the 153 municipalities of the country. The tax proposed, for each sign, varies depending on the size, type of structure and placement.
A new commission set up by the Ministry of Health will regulate advertising of tobacco and alcohol and will look at increasing taxes.
The National Commission for the Prevention of Chronic Noncommunicable Diseases and Cancer, established by the Ministry of Health and Welfare will be responsible for the regulation of advertising of snuff and alcohol and also promote the consumption of healthy foods.
A bill intends to impose a tax in dollars on advertising of commercial enterprises in public spaces.
"According to the bill, natural or legal persons must have an installation or renovation permit from City Hall. Once obtained, they will have thirty days to place the sign, otherwise they will need to reapply." reported Laprensa.com.ni.
It also proposes that mobile advertising on garbage cans, stops and benches, will incur taxes.
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