Tax Reform Could Result in Beverage Shortage in Nicaragua

Businessmen in Nicaragua denounced that because of the tax reform approved by the Ortega regime, the tax burden on imports of all types of beverages has tripled.

Representatives of the Nicaraguan Chamber of Industries (Cadin) explained that before the tax reform that was approved last February came into effect, importers paid the tax on the total cargo of beverages in each import, but now it was ordered that this must be applied on the retail price of each of these products.

- payin the bills -

Sergio Maltez, president of Cadin, told Laprensa.com.ni that “… the measure was adopted two weeks ago, which ‘will affect the entire supply chain, because eventually that cost will be transferred to distributors, the producer, and the consumer, and that will also bring a shortage.”

Carmen Hilleprand, president of the Nicaraguan Chamber of Commerce and Services (CCSN), said that “… As the law establishes that you have to go to the National Institute of Development Information (Inide) and Inide will give you the detailed price list, which is the price that each product is going to have. They went to Inide, but they don’t know, so what did Customs do? Three-fold the price they have always paid and they say the retail price is going to be this one, in a capricious way, you don’t know the analysis they used.”

On the other hand, the Federation of Central American Chambers of Commerce (Fecamco) explained by means of a statement that it implements an uncertain tax base and affects imports of juices, soft drinks, carbonated water, sparkling water with added sugar or flavored, energy drinks and alcoholic beverages.

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