In this case, annual business tax paid in previous years cannot be accredited towards income tax, therefore considered as a deductible expense. Sale of movable assets and rights regarding those assets. Rendering of services in the country. Sale of real estate. VAT collected is regarded as a tax debit while VAT paid is considered a tax credit.
Companies engaging in export activities are eligible to obtain tax credit reimbursements.
A three per cent tax rate of the value stipulated in legal documents is applied. Transactions subject to Value Added Tax are not subject to the Stamp Tax. Except for items covered by special industrial incentives or purchased directly by governmental agencies, imports from outside the Central American region are subject to a tariff ranging between zero and seventeen per cent ad valorem on CIF value. Capital goods imported from outside Central America do pay a zero per cent tariff. All foreign currency transactions must be made through approved financial institutions.