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Nicaraguan government refuses to raise levy on business in order to fund security initiatives. “Our taxes already highest in region”

Thursday, August 4, 2011

\ Nicaragua's Finance Ministry refuses to raise taxes on businesses to increase funding for security initiatives.\ \ Finance Minister Alberto Guevara admitted that more funds are needed to fight organized crime in the country, but said that because Nicaragua’s tax burden is one of the highest in the region, raising taxes on business is not an option.\ \ Other countries in Central America, such as Costa Rica, El Salvador and Honduras, are moving forward with plans to levy new taxes to fund security initiatives. The region has set out a joint anti-crime strategy which is set to cost $953 million.\ \ Original source: InSight\ \ \ \