The proposal is being analyzed by a group of presidential advisers and the Ministry of Public Finances.
"ISO currently charges 1% over gross sales or net assets of a company...", reports Elperiodico.com.gt. "Another option being considered is raising the Income Tax (ISR) from 5% to 6%...".
Source: elperiodico.com.gt
More on this topic
June 2011
With the publication in the official daily newspaper, a 1% increase on income tax (ISR) comes into force.
The amendment to the income tax law adopted by Congress applies only to companies with revenues in excess of $529 thousand (10 million lempiras). The increase will be applicable for the fiscal year beginning in 2011.
April 2011
The 1% increase in the country's tax on income (ISR in Spanish) will apply from the beginning of the 2011 new tax year.
The reform to Honduran income tax law was approved by congress and only applies to companies with revenue above $529,000.
Finance Minister, William Chong, told LaPrensa.hn that, "the reforms do not affect salaried workers...
August 2010
With a view to increasing tax revenues, the treasury has presented a plan to broaden the country's tax base.
If the proposal goes ahead, from January 2011 the minimum amount subject to tax on income will be reduced from $316.67 to $209.52.
"According to the Treasury's draft document, employees earning between $209.52 and $316.67 (who are not currently required to pay tax on their income) will have withholdings applied to their pay from 2011. The proposal also suggests getting rid of income tax returns, under the assumption that employees will be taxed exact amounts," writes Daniel Choto for Elsalvador.com.
June 2011
Interest earned on capital invested abroad will not accrue income tax.
The possibility of collecting this tax, as has been requested by some members of the opposition in Congress, will not become reality because it has not been considered in the tax reform presented by the government, and has even been dropped by the faction who originally made the request.
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