Nicaragua: Tax Exemptions Maintained

NICARAGUA NEWS — With the consent of the private sector, the government has announced that it will remove from the Tax Coalition Law the article which establishes and end to exemptions on 31 December this year. The executive Power will this week present the law reform to the National Assembly, and it is expected that it will be approved before the end of the current legislative period.

san-juan-del-sur-hidden-gem-578x398Bayardo Arce, economic advisor to the President, said, “…” We will remove the article and we will continue exempting traders, so as not to have a problem in the economic management of the country which could create social problems for us. Economic operators will continue to be exempt here. ‘”

Jose Adan Aguerri, president of the Superior Council of Private Enterprise, told that “… It is a reform that does not change the concept of the law that took effect last year, but there are a number of issues that have been worked on from the point of view of technical details, some situations have been corrected and others are improving. ”