Amendment to Article 30 of the Law on Efficiency of Public Revenue and Expenditure
Congreso Nacional
- Decree: 261-2011
- Published: June 10, 2013
- Issuing body: Congreso Nacional
- Gazette: 33,146
- Category: Financial & Tax
Summary
This law reforms Honduras' Temporary Import system to allow companies to import raw materials and supplies without paying taxes, as long as they use them to manufacture products for export outside the country. Companies must guarantee the payment of those taxes through deposits, bonds, or insurance, and the guarantee is canceled when they re-export the merchandise or nationalize it.
Considerations
Whereas the Constitution of the Republic, in its Article 61, among other guarantees and rights, grants Hondurans those of security, freedom and equality before the Law, and with respect to property, establishes as an essential fundamental principle respect for the human person, as the supreme end of society, the Law and the State.
Whereas it is a fundamental principle contemplated in the Constitution of the Republic that the Tax System must be governed by principles of legality, proportionality, generality and equity, in accordance with the economic capacity of taxpayers.
Whereas it is a primary purpose of the State to guarantee employment and security, as well as to promote and protect investment, both public and private; in order to achieve that objective, improving the economic and social conditions of the population in general.
Whereas it is the responsibility of the National Congress to create, declare, reform, interpret and repeal laws.
Articles
To reform Article 30 of Decree No. 113-2011 dated June 24, 2011, which contains the LAW ON EFFICIENCY OF STATE REVENUES AND PUBLIC SPENDING, specifically Articles 1 and 4 of the Temporary Import Regime Law, which shall be read as follows:
To establish the Temporary Import mechanism, in order to promote exports, consisting of the suspension of payment of rights and taxes arising from the importation of: a) Raw materials, semi-finished products, containers, packaging and other inputs that are necessary to produce goods or services that are exported when such goods are assembled, transformed, modified or physically incorporated into products or services that are exported outside national territory. The Executive Revenue Directorate (DEI) shall determine by regulation the deadlines for re-exportation, taking into consideration production cycles according to industry type. b) ..., and, c) ...
To ensure compliance with the acts provided in this Decree-Law and its Regulation, the beneficiary must render and maintain for each importation a Guarantee in favor of the Executive Revenue Directorate (DEI), to respond for the totality of suspended rights and taxes. This Guarantee may be constituted in the form of a promissory note, Certificate of Deposit, Customs Pledge, Real Property, Surety Bond issued by an authorized entity, Insurance Policy, Effective Deposit in an Account of the Customs Service or of the State as appropriate, Certified Check, Bank Guarantee or a combination of the foregoing. The Guarantee contained in these Titles shall have the condition of Preferential Right in favor of the State of Honduras and in any case must be of Immediate Execution. The Executive Revenue Directorate (DEI), as the case may be, shall determine by regulation the most appropriate mechanism to ensure payment of the guaranteed amount prior to re-exportation of the merchandise. These Guarantees of the Temporary Import Regime shall expire:
- a)
When merchandise admitted temporarily is re-exported in any state within the legally authorized deadline;
- b)
When merchandise admitted temporarily is nationalized or re-exported; and,
- c)
When voluntary abandonment in favor of the State of Honduras occurs.
This Decree shall enter into force as of the day of its publication in the Official Newspaper La Gaceta. Given in the city of Tegucigalpa, municipality of the Central District, in the Session Hall of the National Congress, on the eleventh day of the month of January of two thousand twelve. JUAN ORLANDO HERNÁNDEZ ALVARADO PRESIDENT RIGOBERTO CHANG CASTILLO SECRETARY GLADIA AURORA LÓPEZ CALDERÓN SECRETARY To the Executive Branch. Therefore: Let it be executed. Tegucigalpa, M.D.C., January 25, 2012. PORFIRIO LOBO SOSA PRESIDENT OF THE REPUBLIC The Secretary of State in the Ministry of Finance. WILLIAM CHONG WONG
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