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Determination of freight value for Customs Duties purposes (Decree No. 96-2021)
[/vc_column_text][us_separator][vc_column_text]Due to the COVID-19 pandemic, the cost of maritime freight worldwide has increased and this directly affects the calculation of taxes on the nationalization of merchandise in the country as well as the prices of the final consumer, as a result, it will cause a reduction in the purchasing power of Hondurans. Additionally, the current situation shows that the cost of importing products from China to the rest of the world has risen to alarming levels. "Taking into account that previously an approximate cost of $2,000.00 was paid to move a container from China to the Central American region, currently the cost is around $20,000.00. This increase in the value of maritime freight causes increases in product costs and in the taxable base of customs duties. The decree (Decree No. 96-2021) will be in effect until December 31, 2021, taking into account that it is a temporary measure in force. Said value will be determined in accordance with the provisions of the Agreement on the implementation of Article VII of the General Agreement on Tariffs and Trade of 1994 and those of the corresponding chapter in the Regulations. The customs value will be applicable to imported or interned merchandise whether or not they are subject to the payment of taxes. " Therefore, Article 1 states that "Establish exceptionally and as an extraordinary economic measure that the cost of maritime freight, for the purposes of calculating the customs value of the merchandise, will be determined based on TWENTY-FIVE PERCENT (25%) of the value stated in the Transportation Document (Bill of Lading – B/L). The measure will be applicable to merchandise that is imported definitively, regardless of the country of origin or provenance. ARTICLE 2.- The Honduran Customs Administration is instructed to make the adjustments to the Automated System of Customs Revenue of Honduras (SARAH) to comply with the provisions of the previous Article. ARTICLE 3.- The Sales Tax (ISV), paid on the definitive importation of merchandise will constitute a fiscal credit in accordance with the provisions of Article 12 of the Sales Tax Law and its amendments. Said measure will be applicable to the definitive import of all types of merchandise, regardless of the country of origin or provenance. Note: When the incoterms are CPT, CIP, DAP, DPU, DDP, CFR, CIF, the customs agent must inform using the Complementary Data Codes C-300 and C-305. If you wish to contact us through our different social networks or our emails info@lexincorp.com or szelaya@lexincorp.com through which we can clear up any questions or concerns related to this and other legal issues of interest to you.[/vc_column_text][us_separator][us_person image="9490" name="Sylvia Zelaya" role="Partner" link="url:https%3A%2F%2Flexincorp.com%2Fequipo_honduras%2Fsylvia-zelaya%2F|title:Sylvia%20Zelaya||" layout="cards" img_size="full"][/us_person][/vc_column][/vc_row]
