From January to June 2019, Central American companies imported $205 million in alcoholic beverages, 16% more than the same period in 2018, explained again by the behavior of purchases from the U.S. and Mexico.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
In Costa Rica, the Coca-Cola company announced that it had completed the construction of its new raw material production plant in Liberia, and it has now begun operating in its first phase.
As a result of the tax reform implemented in February 2019, at the beginning of 2020 the prices of beverages increased, mainly soft drinks sold in plastic containers.
In February of last year, the Ortega regime approved the reform of the Tax Agreement Law, which consisted of increasing income tax from 1% to 2% for medium sized companies with higher incomes, and from 1% to 3% for large taxpayers.
Until January 13, 2020, the Sworn Declaration of Liquidation of the Selective Consumption Tax on Soft Drinks may be presented in Panama, corresponding to November 2019.
Law 114 dated November 18, 2019, which entered into force on November 19, 2019, establishes a new rate for the Selective Excise Tax on Soft Drinks, which is why the e-Tax 2.0 system was modified. Due to these changes, the authorities decided to extend the deadline for filing this return, corresponding to the November 2019 period.
In the first six months of 2019, Central American countries imported $38 million in wine, and purchases from Chilean companies increased by 11% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
In the first six months of 2019, beer imports into Central America totaled $108 million, and purchases from the U.S. increased 31% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
As a result of the tax reform implemented in February 2019, Nicaragua tripled the tax burden on imports of all types of beverages, and nine months later, businessmen are still waiting for the government to review the collections.
On February 27, 2019, the amendment to the Tax Concertation Law was approved, which consisted of raising from 1% to 2% the income tax for medium sized companies with higher income, and for large taxpayers from 1% to 3%, the livestock sector has reported considerable increases in its production costs.
During the first half of 2019, imports of bottled water in Central America totaled $12 million, and purchases from companies in the United States increased 10% over the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
Panamanian industrialists consider that the approach under which the new tax of 7% on carbonated beverages and 5% on other sugary beverages was defined uses discriminatory fiscal measures.
On November 18, Law 114 was published in the Official Journal, entitled "What creates the Action Plan to Improve Health and dictates other provisions to establish the selective tax on the consumption of sugary beverages and the criteria for its use", which stipulates a 7% tax on carbonated beverages, 5% for other sugary beverages and 10% for syrups, and sugar concentrates for the production of sugary beverages.
A law was published in the Official Journal of Panama that establishes a 7% tax on carbonated beverages, 5% for other sugary beverages and 10% for syrups, syrups and concentrates for the production of sugary beverages.
On November 18, Law 114 was published in the Official Journal, entitled " What creates the Action Plan to Improve Health and dictates other provisions to establish the selective tax on the consumption of sugary beverages and the criteria for its use."
In the first half of 2019, Central American companies imported fruit and vegetable juices for $63 million, and purchases from companies in Mexico increased 5% over the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
During September 2019, the production of alcoholic beverages in Panama was 24 million liters, and beer production fell 13% compared to the same month in 2018.
According to figures from the General Comptroller of the Republic, the accumulated production of alcoholic beverages in general reported a decline, reducing from 227.3 million liters from January to September 2018, to 218.3 million liters in the same period of 2019.
From January to March 2019, Central American companies imported $109 million in alcoholic beverages, 24% more than in the same period in 2018, mainly explained by purchases from the U.S. and Mexico.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
From January to August 2019, the production of alcoholic beverages in Panama was 194 million liters, and beer production fell 3% compared to the same period in 2018.
According to figures from the General Comptroller of the Republic, the production of alcoholic beverages in general reported a decline, reducing from 199.8 million liters from January to August 2018, to 193.9 million liters in the same period of 2019.
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