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Honduras imposes 1 percent additional tax to gross earnings in bid to beat evasion

Thursday, April 14, 2011


Honduran legislators passed a tax reform that will tax 1 percent on gross earnings of companies. The aim is to beat tax evasion.

The reform will be applicable to companies that have revenues of more than $500,000.

The aim of the reform is to make companies pay taxes when they have high earnings. In the past they have evaded taxes by declaring losses.

 

Original source (in Spanish): Efe