Nicaragua To Remove 35 Percent Tax On Colombian Goods
by Mike Godfrey, Tax-News.com, Washington
02 March 2017
Nicaragua is planning to repeal a 35 percent tax that it imposed on products from Colombia, introduced in 1999 as part of a territorial dispute.
President Daniel Ortega has requested that the National Assembly remove the tax, which is levied specifically on Colombian products.
Nicaragua imposed the tax on imports from Colombia and Honduras after the Ramirez-Lopez treaty granted the countries territory claimed by Nicaragua in the Caribbean Sea.
The tax was repealed for Honduras in 2003.
Business groups said that removing the tax would boost the country's economic competitiveness.
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