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Private Businesses Fear Honduras Tax Reforms Will Be New Income Tax

Article Summary:

While the government justifies the application of a law against tax evasion to nourish the General Budget of the Republic, employers and tourism business owners reject the reforms out of fear the legislation will lead to a new taxable income.

Original Article Text From El Heraldo via Google Translate :

Cohep fears that tax reform will create new tax income in Honduras

While the government justifies the application of a law against tax evasion to nourish the General Budget of the Republic, employers reject it because they believe that this legislation is unconstitutional defects and is confiscatory.

About 15 days ago, Secretary of Finance, Hector Guillen, presented to Congress, again, an amendment to article number 34 of the Law on Income Tax (ISR). The legislation is driven by President Porfirio Lobo, who promises to “review to the socks entrepreneurs.” the Herald is holding a series of documents submitted to the National Congress president, Juan Hernandez, where you explain why this legislation violentará back the Constitution of the Republic.

In one letter sent on 23 May 2012 he emphasized that the reform is to combat tax evasion, but to create a new tax, which has defects. We expressed by the government representatives that this reform is not a tax but a payment for losses. In addition, this measure will relieve the Executive Directorate of Revenue (DEI), to review more than 65,000 taxpayers, because it could not perform audits due to lack of personnel and equipment.

The executive also pledged under the Great National Agreement, not to impose new taxes for the rest of the government of Lobo. The agreement was signed at Government House officials, labor leaders and representatives of Cohep.

Link to Original Article:

From El Heraldo

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