Post by Sapphire Capital on Jul 12, 2008 21:14:37 GMT 4
The minister of the treasury and public credit, Alberto Guevara has indicated that future tax reforms would include a broader basis of taxpayers and also as well as restrict exemptions.
Guevara mentioned that a new tax bill would include all the economic sectors that have not yet been included as taxpayers; however he did not specify which sectors will be affected. Also, he mentioned that the government is seeking to develop a more equitable tax system rather than creating a tax collection policy.
With regard to the exemptions, the government specified that the potential tax bill would be limited by a specific term; nonetheless, Guevara did not mention which exemptions would be restricted.
This year tax collection would come to 18 billion ($952 million). The Nicaraguan government expects to increase tax collections in more than 2.500 million Cordobas for fiscal year 2008
Guevara mentioned that a new tax bill would include all the economic sectors that have not yet been included as taxpayers; however he did not specify which sectors will be affected. Also, he mentioned that the government is seeking to develop a more equitable tax system rather than creating a tax collection policy.
With regard to the exemptions, the government specified that the potential tax bill would be limited by a specific term; nonetheless, Guevara did not mention which exemptions would be restricted.
This year tax collection would come to 18 billion ($952 million). The Nicaraguan government expects to increase tax collections in more than 2.500 million Cordobas for fiscal year 2008