All contracts are legally binding. Computers and peripherals, electrical equipment, automotive parts and food processing equipment and packaging. This region's pristine beaches are now merely flown over as a tourist flies to The Bay Islands . This area is also close to the more popular tourist attractions, the Mayan ruins, lake Yojoa, and a couple of natural parks. Income tax is payable on income obtained from services rendered in Honduras, including any civil or commercial activity and proceeds from any kind of real or personal property.
Income tax is also payable on all exports produced in Honduras.
Resident companies and individuals are subject to income tax both from sources within the country and from foreign countries. Nonresident companies and individuals are taxed on income only from sources within the country . The tax ranges from 12 to 40 percent. Foreign employees are subject to income tax and must file individual returns annually and upon leaving the country . The law defines gross income to include wages, salaries, overtime, daily allowances, gratuities, reimbursements, pensions, subsidies, bonuses, and commissions.