- September 11, 2020
- Posted by: saenicsa
- Category: Tax
The 14th and 15th of September are national holidays in Nicaragua and this year they immediately follow the upcoming weekend.
In an effort to increase sales and give a boost to the tourism industry, the President of Nicaragua has authorized an exoneration to the 15% IVA tax wherein those taxpayers who fulfill the following criteria may participate:
1) Be categorized as either a hotel, restaurant or bar;
2) Register online through the electronic tax portal (VET) to participate in the national fair.
This means that those who fall within the above criteria will be able to realize sales for hotel, restaurant and bar services without having to charge IVA for all the sales made on the 14th and 15th of this month.
Here is a video tutorial on how to register:
It is important to mention, that those who participate will have to report their daily sales before 12 noon each following day after closing sales and if not then the exoneration will be lost and the taxpayer will be liable for the payment of IVA that wasn’t billed. So, for example the sales made during the 14th of September will need to be reported on the 15th before noon, or the taxpayer will have to reimburse the government the tax for the exonerated sales and the exoneration would be lost.
If you are interested in receiving the exoneration, please find below the link to download the GUIDE FOR REGISTRATION.