Industry Insists on Rejecting Guatemalan Tax ReformWednesday, January 6, 2010 The Chamber of Industries reiterated its strong rejection to the tax hike promoted by the Government. Juan Antonio Busto, president of the CIG, the Guatemalan Chamber of Industries, argues the Government should foster economic recovery before proposing tax increases. Nicaragua announces tax reformTuesday, August 26, 2008 The Government did not provide details on how it plans to modify the tax collection system, but made the commitment to the IMF that it will increase revenue from tax collection. Tax law expert, Julio Francisco Báez, said that the reform will not only seek to increase collection, but to stimulate investment and eliminate anti-exporter biases. Bayardo Arce, Presidential Economic Advisor, spoke of removing tax exemptions from various sectors as they are considered to be "excessive." Panama: Touristic Ships Exempt From Port TaxesTuesday, April 13, 2010 The Maritime Authority of Panama decided to exempt tourism vessels from paying port taxes. The measure applies for those vessels (sailboats and yachts) entering Panamanian ports for tourism purposes. New Extension for Customs Fines in GuatemalaTuesday, March 12, 2013 The exemption for fines established under the National Customs Act will be extended until June 15 of this year. According to Pavel Centeno, the Finance Minister of Guatemala, the deadline is March 15, however, it will be extended, for the fifth time, until 15 June. Honduras: Retention in Coffee ExportsMonday, May 5, 2014 Exporters warn that the proposal to retain $5 for every three or four pounds of exportable quintal will reduce competitiveness and encourage smuggling. The bill introduced in Congress days ago cites the retention of $5 for every three or four pounds of exportable quintal in order to constitute a fund to support coffee growers affected by rust. Exporters believe that this measure will only encourage more smuggling and reduce the product's competitiveness internationally. Costa Rica: Incentives for Electric VehiclesTuesday, November 28, 2017 The bill which the Legislative Assembly approved in a first debate establishes tax exemptions for imports of electric vehicles and authorizes the replacement of the vehicle fleet belonging to State entities. Nacion.com reports that "...Specifically, the bill authorizes the State not to charge taxes on fully electric vehicles costing less than $30,000 (¢17.4 million)." Guatemala: Tax Calendar April 2016Tuesday, April 5, 2016 Memorandum on the Emerging Act for Conservation of Employment and payment schedule of obligations in March 2016. From a Memorandum sent by Tezó and Associates: Guatemala: Income Tax Lowered by 3%Thursday, January 8, 2015 In order to encourage investment in the country, starting from this fiscal year income tax paid by taxpayers registered in the regime on profits will be reduced from 28% to 25%. According to the latest amendment of the Law on Tax Update, Decree 10-2012, the rate of income tax (ISR) applied to taxpayers from 2015 will be 25%. The authorities clarified that the rate of 28% will be applied to taxpayers who have not yet completed the liquidation of 2014 Guatemala: More Taxes on Liquor and CigarettesTuesday, January 6, 2015 The Executive is considering increasing taxes on cigarettes and alcoholic beverages as an option for balancing the 2015 budget. With the provisional suspension of the tax on telephone lines the Guatemalan government is left with a deficit $237 million, approximately, which is why it is looking at bridging the gap using new taxes on liquor and cigarettes, as the main alternative. NO to Tax Amnesty in HondurasThursday, June 5, 2014 Business leaders say that amnesties on tax debts are an unjust punishment for companies that meet their tax obligations on time. Private enterprises have criticized the inconsistency of state powers who on the one hand are seeking to increase revenue and on the other, reward and promote the culture of "no pay", stating that tax amnesties do not benefit the country. Panama: Incentives for Investment in ColónTuesday, March 15, 2016 Companies in the Colon Free Zone will be able to open retail sales branches in the 16 streets of the 'Casco Antiguo' area. From a statement issued by the Ministry of Commerce and Industry in Panama: Tax Exemptions Suspended for Three MonthsWednesday, January 16, 2013 A bill submitted to the Congress of Honduras has temporarily suspended all exemptions and tax benefits granted by the Ministry of State in the Finance Dispatches. The deadline set in the decree is for a period of sixty days from the effective date of this decree, but it will be extended to ninety days upon approval by Congress. Honduras: New Tax Code AnnouncedThursday, July 21, 2016 A bill prepared by the Executive and the private sector includes the concept of a single tax and the creation of an administrative court for tax matters. The bill must now be analyzed and approved by Congress. In addition to regulating exemptions, the new code creates the Superintendency of Tax and Customs and the Tax Administration Department. Exemptions for Electric VehiclesFriday, December 15, 2017 With the law approved by the Legislative Assembly of Costa Rica, electric vehicles are exempt from the general sales tax, the selective consumption tax and the customs value tax. Finally, the Legislative Assembly has approved, in a second debate, the Law on incentives and promotion of electric transport, which aims to encourage the purchase of these types of cars in the country. Incentive to Import Electric CarsMonday, December 9, 2019 As of January 2020, electric vehicles imported into El Salvador and Honduras will be exempt from the import duty, which was 30% in El Salvador until now. The measure, which will be applied in both countries, was approved at the session of the Council of Ministers of Economic Integration (COMIECO), held in El Salvador on December 5 and 6. |
|