A court ruling has overturned the SAT resolutions authorizing Empresa Portuaria Quetzal y Terminal de Contenedores Quetzal to operate as temporary customs warehouses.
Although the Superintendency of Tax Administration (SAT) has announced that it will be appealing the ruling given by the Second Administrative Appeals Chamber, the reality is that since June 28, the activities of the customs warehouses in Empresa Portuaria Quetzal (EPQ) have been suspended as well as those at the Terminal de Contenedores Quetzal (TCQ)."...The resolution orders that the SAT no longer has the customs service under its administration, which contravenes the Central American Customs Code CAUCA, therefore the Superintendency will file an appeal against the decision made by the Court."
In 2016, the ratio between total expenditure of central governments of the countries of the region and GDP remained almost unchanged from the previous year, going from 18.3% to 18.6%.
From the report "Macroeconomic Profiles: 8th edition", from the Central American Institute of Fiscal Studies (Icefi):
The Central American Institute for Fiscal Studies (Icefi) presented its most recent edition of the Macro-Fiscal Profiles of Central America, which contains an analysis of the fiscal situation of Central America and each of the countries of the region, at the end of fiscal year 2016, as well as the main lines contained in the budgets approved for 2017.The publication includes in this opportunity a revision to the main indicators related to the fulfillment of the Sustainable Development Objectives 2030 -ODS 2030- and raises the urgent need to make progress in a new fiscal agenda that allows the effective attention of these commitments in the short term.
The Executive Directorate of Revenue has announced that as part of the changes in the audit and tax collection it will oversee the transfer prices of companies headquartered abroad.
In addition to the implementation of electronic billing and other changes that aim to improve the supervision of tax collections, the Executive Directorate of Revenue (DEI) has announced that foreign companies or Honduran companies whose headquarters are outside of the country must report in detail their transfer prices.
The government has extended the price freeze on seven basic food products, including red beans and ground beef, for 30 days.
From a statement issued by the Government of Honduras:
The Government of the Republic of Honduras through the Ministry of Economic Development informs the Honduran population in general, that it has been determined by Ministerial Agreement to establish throughout the national territory the maximum retail price for popular consumer products for a period 30 days.
Regulations on the Act Strengthening Shrimp Farming provides for the issuance of a certificate of registration for those engaged in the distribution and marketing of shrimp.
The Executive Directorate of Revenue (DEI) will oversee shrimp transport units and establishments that sell them in order to achieve better tax control of this economic activity, which represents one of the largest in the southern region.
Although two articles are still pending, the Special Law Against Money Laundering Crimes approved by congress establishes harsher penalties for money laundering.
From a statement issued by the National Congress of Honduras:
The National Congress in session on Thursday, after a third and final debate of Article 74 to 92 of the draft Special Law Against Money Laundering Crimes, now has only two articles pending for Honduras have a new law for the fight against public corruption and establishes harsher penalties for those found guilty of forms of money laundering and is linked with other legislation aimed at implementing anticorruption sanction methods.
As part of the controls to combat smuggling, between May and July 29 companies were suspended from the list of importers, which represents 60% of the total volume of pairs of shoes entering the country.
In order to detect and prevent irregularities in the import of footwear, the General Administration of Federal Tax Audit Tax Administration Service of Mexico carried out 31 audits "...
Printing of various tax documents must be done using printers previously authorized by the Executive Directorate of Revenue.
Raising revenue, regulating printing documents and reducing tax evasion, is the aim of the Directorate of Revenue (DEI) with the implementation of a new system for authorization of printing tax registration documents directed at the 400 print shops that registered in the census in 2013, who design and print invoices, receipts, bills of exchange and checks.
An announcement has been made that greater control will be exerted in verifying payments of income taxes by large taxpayers.
Due to the decline in revenue from income tax and irregularities in the internal collection agency, the Directorate of Revenue has announced it will increase controls on businesses.
In an article on Latribuna.hn Miriam Guzman, head of the institution, "emphasized that the auditing by the DEI, will not decrease, while at the same time business owners are being invited to "avoid having to be objects in criminal prosecutions led by the relevant authorities."
Under discussion in the Salvadoran Congress is the application of equal fiscal controls and management for private companies and those made up of mixed capital.
Public-private companies should be subject to the same controls and audits as those consisting of 100% private capital, because lack of transparency in controls of some of them and excess controls in others affects competitiveness and economic development.
Finance Minister William Chong Wong affirmed they will be completely transparent when the International Monetary Fund reviews Honduras’ accounts.
The previous IMF visit to review national accounts, a compulsory process for all member states, was conducted in Honduras back in 2009, when Manuel Zelaya was still president. According to Proceso.hn, the mission “reviewed the numbers and found imbalances in public spending, mismanagement of state companies and noncompliance with the agreement signed with the Fund”.
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