Emergency Tax and Financial Law
Congreso Nacional
- Decree: 18-2010
- Published: April 16, 2010
- Issuing body: Congreso Nacional
- Gazette: 32,188
- Category: Financial & Tax
Summary
This law declares a fiscal emergency in Honduras to address the country's financial crisis. It authorizes the government to take extraordinary measures in revenue, spending, and finances to stabilize the economy, protect health, education and security services, and stimulate economic growth. It applies for one year to all branches of government.
Considerations
Whereas, in accordance with the provisions of Article 245, subsection 20) of the Constitution of the Republic, it corresponds to the President of the Republic to enact extraordinary measures in economic and financial matters, when required by the national interest.
Whereas, the President of the Republic is responsible for the General Administration of the State; and among his powers are: to direct the general policy of the State and represent it; to enact extraordinary measures in economic and financial matters when required by the national interest; to direct the economic and financial policy of the State and such other powers as conferred by the Constitution and the Laws.
Whereas, it is a priority of the Government to strengthen public finances, for which purpose it is obligated to make its own stoic effort, through the rationalization of expenditures and measures aimed at strengthening Income and Social Equity, so as to efficiently address priority sectors such as Health, Education, Security, and the most disadvantaged groups of the population.
Whereas, the State of Honduras has experienced a strong impact on its public finances, without having the resources to meet the various commitments acquired and to comply appropriately. Therefore, it is necessary to take emergency measures in a temporary manner, while the country's economy recovers and the financial conditions of the State are reestablished.
Whereas, this Law is applicable to the Public Sector.
Whereas, in accordance with Article 205, numeral 1) of Decree No. 131 dated January 11, 1982, of the National Constituent Assembly which contains the Constitution of the Republic, it is an attribution of the National Congress to create, The noncompliance with these provisions shall result in administrative, civil, or criminal liability as appropriate.
Articles
This Law shall be in effect for a determined period of one year from the date of its publication in the Official Gazette La Gaceta. Given in the city of Tegucigalpa, municipality of the Central District, in the Session Hall of the National Congress, on the twenty-eighth day of the month of March, two thousand ten. LENA KARYN GUTIÉRREZ AREVALO PRESIDENT RIGOBERTO CHANG CASTILLO SECRETARY GLADYS AURORA LÓPEZ CALDERÓN SECRETARY To the Executive Branch. Therefore: Let it be executed. Tegucigalpa, M.D.C., April 15, 2010. PORFIRIO LOBO SOSA PRESIDENT OF THE REPUBLIC The Secretary of State in the Ministry of Finance. WILLIAM CHONG WONG HONDURAN PRESS AGENCY LIC. MARTHA ALICIA GARCÍA MARCO ANTONIO RODRÍGUEZ CASTILLO Coordinator and Supervisor Miraflores Colony Telephones: Management: 220-4956 Administrator: 220-3026 Plant: 220-6767 THEREFORE, IT DECREES: The following: LAW OF FISCAL AND FINANCIAL EMERGENCY
A State of Fiscal Emergency in the Country is declared, in order to address in an integral and responsible manner the fiscal and financial crisis through which the public finances are currently passing, in order to restore their balance and reactivate sustainable economic growth, through the adoption of extraordinary measures of a fiscal and financial character.
The objective of the present Law is to foster an appropriate social climate to achieve the harmonious stability of the different sectors that make up Honduran society, thereby promoting legal security and citizen security, required to stimulate investment, reduction of poverty, job creation, and the priority sectors of health, education, and security.
For the achievement of the purposes of this Decree, the Government must adopt the pertinent measures in matters of fiscal income, rationalization of public spending, measures of a financial order, social provisions of social and administrative benefit, in accordance with the powers conferred by the Constitution of the Republic and other applicable laws and Regulations.
The provisions of the present Law are of strict compliance for the Legislative Branch, Executive Branch, and Judicial Branch, with their respective institutions and dependent bodies.
Responsible for the compliance of the present Law are the Presidents of the Powers of the State and the officials of the Central Government and of the Decentralized and Deconcentrated Institutions of
Related laws
- Decreto Legislativo No. 8-2022 — Declaración de Estado de Emergencia Fiscal y Financiera del Sector Público — This decree declares a fiscal and financial emergency in Honduras to address a crisis inherited from previous administrations. It authorizes the Ministry of Finance to take extraordinary measures, such as reallocating expenses and borrowing up to 2 billion additional dollars during 2022-2023, to pay debt and fund social programs including energy, fuel, and education subsidies. (Decree 8-2022, 2022)
- Decreto Legislativo — Disposiciones sobre administración presupuestaria y financiera del sector público para el ejercicio fiscal 2020 — This decree regulates how the Honduran government administers and spends its 2020 budget. It establishes rules on public employee salaries, purchases and money transfers between institutions, sale of unused state property, and spending controls. It affects all ministries, decentralized institutions and municipalities that must follow these rules to avoid penalties.
- Acuerdo Ministerial No. 292-2022 — Aprobación de la Estrategia de Gestión Financiera del Riesgo de Desastres y su Plan de Implementación — This regulation approves a strategy for the Government to protect public finances against natural disasters. It establishes an action plan led by the Finance Ministry to strengthen fiscal response capacity to natural phenomena, coordinating with disaster risk management institutions. (Decree 292-2022, 2022)
- Decree 8-2022 — This decree declares a fiscal and financial emergency in Honduras for 2022-2023, authorizing the Government to obtain up to US$2 billion in domestic or foreign loans to pay debt and finance social programs such as energy subsidies, fuel, and education. It establishes a debt ceiling of 55% of GDP to restore the balance of public finances. (Decree 8-2022, 2022)
- Law on Assistance to the Productive Sector and Workers for the Effects of the Covid-19 Pandemic — This law authorizes emergency fiscal, labor, and financial measures to protect businesses and workers during the COVID-19 pandemic. It extends tax payment deadlines, authorizes public credit for health emergency funds, flexibilizes financing at BANHPROVI for productive sectors, establishes solidarity contributions for suspended workers, and accelerates digital transformation in telecommunications. (Decree 33-2020, 2020)