Financial News

Honduras’s New 15% Tax Includes Baked Goods

January 15, 2014 by Jennifer Catracha No Comments

The Executive Directorate of Revenue (DEI – Dirección Ejecutiva de Ingresos) authorities met yesterday with the Bakers Association of Honduras in order to clarify the new tax legislation. Bread products are exempt from the 15 percent sales tax which was recently approved by the National Congress of Honduras, however other baked goods such as birthday cakes, do qualify to be taxed.

The Honduras National Congress passed the new law in order to increase the revenue of the State so that it may provide better services to the public.DEI Imposes 15% Tax in Honduras

The Minister of the DEI, Miriam Guzmán, met with the Bakers Association of Honduras to clarify that taxes must be paid from January 1st, and that the bakers should already be collecting such a tax, and making their declaration and payment of the same by the 10th of each month.

The head of the DEI confirmed that from the first week of February, they will be visiting all bakeries and distribution centers of those products to see if the collection of the tax is reflected in the invoice. If not, there will be adjustments and appropriate sanctions made.

The DEI is alerting the public that bakers invoices will be modified to include this new tax.


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