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LatinNews Daily - 29 January 2019

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In brief: Nicaragua

* Nicaragua’s finance minister Iván Acosta has presented a new legislative initiative to reform the country’s tax legislation. According to Acosta the main changes proposed in the tax reform include an increase in corporation tax for large companies - from 1% to 3% - and for medium-sized companies (from 1% to 2%). The proposed initiative is in response to the continued economic problems stemming from the crackdown by President Daniel Ortega on anti-government protesters which began mid-April and has left over 500 people dead. The latest figures from Nicaragua’s central bank (BCN) for October 2018 regarding the monthly economic activity index (Imae) showed a -6% fall in activity compared with the same month in 2017.