Tax Update- Important changes you should be aware of as we start 2017.
General Administrative Provision No. 02-2016.- Classification of Great Taxpayers. Published in La Gaceta Official Gazette No. 237 of December 19, 2016. By means of General Administrative Provision No. 02-2016, the Director of the General Revenue Agency (DG) determined that natural persons or Legal Entities with gross annual incomes of economic activities equal or greater than C $ 160,000,000.00 (one hundred and sixty million córdobas ) would be considered Great Taxpayers.
Some laws that provide tax incentives in Nicaragua- Part II
This time we present the second installment of our edition of Laws that offer tax benefits in Nicaragua. Previously we mentioned the benefits offered by the Law on Conservation, Promotion and Sustainable Development of the Forestry Sector in addition to the Law on Tourist Incentives and on this occasion we make a brief explanation of the incentives offered on other legal provisions and laws from which we can all benefit.
The income tax exemption for non-profit organizations
This time we are going to address a very interesting topic that has been the object of discussion—and also of administrative remedies filed by non-profit organizations—in Nicaragua; which is, the tax exemption that by nature the nonprofit organizations have, commonly called “NPO”. We will focus our attention on the Income Tax, which is the core of the discussion.
Public- Private Association Law: New Investment Opportunities in Nicaragua
During the last decade, Nicaragua has witnessed the growth and enhancement in different sectors of the national economy, such as energy, communications, agribusiness, mining, construction and, in general, in a large part of the industrial segment. Even though such growth has had its main impact in the country´s macroeconomics, it is also true that there have been great efforts to try to transfer the benefits and improvements in a more tangible way to large and diverse sectors of the population, especially in terms of a major infrastructure development and a more efficient rendering of public services.
Some facts about the new Law of Guarantees over Goods and Chattels. (Ley de Garantias Mobiliarias)
In order to give a boost to trade exerted by micro, small, and medium enterprises (hereinafter MSMEs) in the country, responding to their need to access credit from financial institutions, which require the provision of guarantees MSMEs are not able to provide, for lack of real estate properties sufficient to provide mortgage guarantees, it has been a duty of the National Congress, to try to provide a modern