The Cabinet authorized the Minister of Commerce and Industry to submit to the Assembly a bill to create the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services Related to Manufacturing.
While the health emergency lasts in El Salvador, online purchases made by individuals from U.S. companies, which do not exceed $200, will not pay taxes.
In response to the outbreak of covid-19 in the country, the Law on Facilitation of Online Purchases was issued, which allows for the promotion and facilitation of the import of goods or merchandise of a non-commercial nature, i.e. for personal use, by Salvadorans through online purchases, according to a statement by the Assembly.
Without clarifying which companies or individuals could apply the measure, the Bukele administration announced a three-month exemption from payment of mortgage loans, services such as water, electricity, Internet, cable and telephone.
In order for Guatemalan producers to compete under the same conditions as neighboring countries, the government is preparing a bill that seeks to exempt agricultural inputs from VAT.
The initiative, known as the "Fiscal Equity Law", is being prepared by the Ministry of Agriculture, Livestock and Food (Maga), because, according to the institution's top official, other Central American countries do not charge value-added tax (VAT) on agricultural inputs.
In Costa Rica, the Ministry of Finance decided to extend the deadline by 24 additional months so that the import of hybrid and electric vehicles can be done at reduced rates and in some cases without paying taxes.
With the publication of decree 42080-H-MINAE-MOPT in the edition of the Official Journal of Thursday, January 16, 2020, the benefits will be maintained until December 2021.
With the Nicaraguan authorities confirming that they will review the Tax Agreement Law again in 2020, the business sector is calling for the correction of several measures that have decapitalized companies operating in the country.
On February 27, 2019, the reform to the Tax Harmonization Law was approved, which consisted in raising income tax from 1% to 2% for medium sized companies with higher income, and from 1% to 3% for large taxpayers.
In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.
On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.
In Honduras, Congress extended for two more years the validity of the Law to Support Micro and Small Enterprises, which grants benefits such as exemption from payment of income tax and other taxes.
To opt for the benefits granted by the law, interested parties must process their permits, national and municipal licenses for its operation, reports a statement issued by Congress.
In Guatemala, Congress is discussing a bill that seeks to increase the arrival of flights to the country through tax incentives for airlines, which would be coupled with the elimination of improper tax charges.
On August 14, 2019, the President of the Legislative Branch, Álvaro Arzú Escobar, presented to Congress initiative 5585, which has the support of the International Air Transport Association (IATA), the Latin American and Caribbean Air Transport Association (ALTA) and the Guatemalan Association of Air Lines (AGLA). See full bill.
For interest, penalties or surcharges to be 100% forgiven, taxpayers will have until November 30,
2019 to pay their overdue taxes.
On September 26, the National Assembly approved Bill 78 of 2019, which aims to exonerate from interest, surcharges and fines of taxes that are delinquent and owed by taxpayers.
The Guatemalan Chamber of Commerce opposes the special tax scheme for agricultural activity approved by Congress, arguing that it is unconstitutional and violates the principles of tax equity.
The new fiscal regime for agriculture, approved last September 24 by the deputies of the Congress of the Republic, has been surrounded by controversy, as from the beginning the chambers of industry and commerce expressed their opposition.
The Guatemalan Congress approved a bill that contemplates the creation of a special tax regime for agricultural activity.
Although this bill was involved in controversy days ago, as the chambers of industry and commerce expressed their opposition, Congress decided to approve the bill. See full bill.
Nayib Bukele returned to the Legislative Assembly the reform to the law of Free Zones that granted tax benefits for an additional period of 10 years to companies in the country to increase their investment in 100% with respect to the initially made.
On August 29, 2019, the Assembly informed that the Legislative Plenum endorsed the reform to the Law of Industrial and Commercial Free Zones, establishing that the users of these zones would have a term of 10 additional years (before there were five) to continue enjoying total exemption from taxes, which would be applicable once the period established for the regular enjoyment of this benefit expired.
In Guatemala, the chambers of industry and commerce oppose the bill that proposes to create a special tax regime for agricultural activity.
The project "Law on Simplification, Updating and Tax Incorporation", which has been in Congress for more than two years, was scheduled for final discussion until September 10.
On September 2, Costa Rica began the registration of individuals and agricultural producers who wish to opt for the benefits contemplated in the new tax regulations.
The term began on Monday, September 2 and ends on January 31, 2020, and for registration interested parties must submit their physical or legal identity card, and literal certification of the property, informed the Ministry of Agriculture and Livestock (MAG).
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