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Latin America Investment News on Viva Tropical

Real Estate Industry and Foreigners See Tax Hike in Honduras

Article Summary:

Honduras will increase the amount of taxes paid by foreigners by pushing up the tax limit from 10% to 25% on the taxes paid by natural or legal persons who are not residents of the country. The tax hike will apply to salaries, wages, and commissions, as well as the real estate industry.

Photo Credit: El Heraldo

Original Article Text From El Salvador via Google Translate :

Apply More Foreign Taxes

In order to raise about 100 million lempiras ($ 5,100,704) the authorities of the Ministry of Finance presented to the plenary of the National Congress a bill to increase from 10 to 25% several tributes to the natural or legal persons not resident in Honduras .

The bill seeks to amend Article 5, relating to Income Tax, Act Strengthening Income, Social Equity and rationalizing public expenditure approved in February 2010, except the comments in paragraphs 5 and 7, as published the newspaper “The Herald”.

Royalties are taxed operations of mines, quarries, or other natural resources and any compensation for services rendered in or outside the country, excluding remittances.

Similarly, gross income in the percentages of the salaries, wages and commissions, as well as real estate.

Deputy Finance Minister, Hugo Castillo said that the only thing to be careful for investment attraction is that countries do not have different rates, which is the case of Central America, where everyone has an average rate of 25 percent and Honduras only 10 percent.

The law taxed at the 10 percent income or profits earned by foreign companies through agencies, affiliates, subsidiaries, branches, legal representations, dividends or profit.

With 25 percent of the royalties, capital paid for the use of patents, secret formulas, designs, processes, trademarks and copyrights.

However, be reduced from 15 to 10 percent interest on commercial transactions, bonds, securities or other obligations. Similarly, income from the operation of aircraft, ships and land vehicles.

Will adapt a similar percentage to revenue operations communications companies, software usage, software solutions, telematics and other telecommunications area. Also join insurance premiums and guarantees.

Link to Original Article:

From El Salvador

Latin America Investment News on Viva Tropical