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The economic measure granted to maritime freight by Decree 96-2021
[/vc_column_text][us_separator][vc_column_text]On October 18, 2021, Decree 96-2021 came into force, which contains extraordinary economic measures on customs taxes, which will also be reflected in the Income Tax for the 2021 fiscal period. This benefit will be transferred to final consumers, that is, it will be reflected in the final sale price of definitively imported products in any of their forms of distribution and marketing. This tax benefit consists of calculating the cost of ocean freight for customs value purposes based on 25% of the value stated on the transport document (Bill of Lading – B/L). This measure will be implemented for merchandise that is definitively imported as of October 18, 2021, that is in temporary customs warehouses or primary border customs zones or PFI and that enter by sea through the ports of Honduras and ports of the Central American area with multimodal transport and that pay their taxes at a border or internal customs office. The Honduran Customs Administration, within its procedures to enjoy this benefit, instructed the following: a) The complementary data codes C-300 freight in undeclared incoterm were created, indicating the value of the freight and C-305 application exception ocean freight must include the word "YES" when using the Incoterms EXW, FCA, FAS, and FOB. b) When the Incoterm agreed between buyer and seller is EXW, FCA, FAS and FOB, the value of freight and insurance will continue to be broken down, using only the complementary data C305 Application of undeclared sea freight exception. c) When the Incoterms are CPT, CIP, DAP, DPU, DDP, CFR and CIF, a rule was created in the Customs Computer System so that the Customs Agent reports in complementary data the value of the freight actually paid so that the system can make the 75% deduction and form the taxable base with the value of 25% of the remaining freight, in order to calculate the tax to be paid, using the codes described in section a) d) When the merchandise enters through a port in the Central American area, the Customs Computer System will carry out the validation of the customs office at the beginning of international transit. e) When the goods enter through a port in the Central American area and the terms agreed between the buyer and seller establish that the delivery point is at the border or internal customs office, the Customs Broker will record the goods declaration taking into account sections c) and d), for which the Computer System will perform the validation of the customs office of the beginning of the international transit. f) In the case of goods that enter through a port in the Central American area and are nationalized at an integrated border post, the Customs Authority must establish the necessary controls when the Customs Broker requests a cargo manifest for the registration of the advanced DUCA D and enjoy the benefit to whoever is effectively entitled. In order to enjoy this benefit, the Customs Administration will not require the digitization of new documents; it will be sufficient to record the freight value in the transport document to comply with the provisions of Article 1 of the related Decree. The Sales Tax (ISV) paid on the definitive importation of merchandise will constitute a tax credit as established in Article 12 of the Sales Tax Law and its amendments. It is also indicated that this benefit will be valid until December 31, 2021, and may be extended if the National Congress so decides in its 2022 legislative sessions. For comprehensive advice on the subject, please contact the following email address: nfugon@lexincorp.com.
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[/vc_column_text][us_person image=”9496″ name=”Nicole Fugon” role=”Asociada” link=”url:https%3A%2F%2Flexincorp.com%2Fequipo_honduras%2Fnicole-fugon%2F|title:Nicole%20Fugon||” layout=”cards” img_size=”full”][/us_person][us_separator][vc_column_text]*Legal Notice: The general information contained in this document is provided for informational purposes only and should not be construed as legal advice on any of the topics discussed. You should not act or refrain from acting on the basis of any content contained herein without seeking legal or other professional advice. We disclaim any liability for any actions you take or refrain from taking based on any content in this communication.[/vc_column_text][/vc_column][/vc_row]
