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Law 306

Submitted by chakalin97 on Fri, 2008/11/21 - 14:36.
0

does anyone know what exactly is?

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LAW ON INCENTIVES FOR THE TOURISM INDUSTRY OF THE REPUBLIC OF NI

Submitted by ptiffer on Tue, 2008/11/25 - 16:56.

Hello:

I can send you the law, in English, attached to an email, I don’t know how to post it here in NL, so send me an email to and I will be pleased to do it.

My email is:

ptiffer@cablenet.com.ni

Best regards

Paul Tiffer Rodríguez Abogado y Notario Público Tiffer & Asociados Hospital Militar 1 Cuadra al Lago 1 Cuadra Abajo Teléfonos: 2548142 - 2668622 Celular: 8841652 Managua, Nicaragua http://www.nicaliving.com/node/3156

Nicareal

Submitted by chakalin97 on Mon, 2008/11/24 - 09:07.

what size is worthwhile? Chaq

I think there is more to it than size

Submitted by fyl on Mon, 2008/11/24 - 10:23.

First, read the law. There are specific guidlines for what qualifies and it is not the same everywhere. For example, I remember a "major project" (probably the wrong words but the right concept) is over $500,000 in Managua but $150,000 in other areas.

The biggest problem I saw (we decided not to go for using it for the CoolTop project) was the required hoop-jumping. We felt the cost of compliance outweighed the benefits. Why? Well, casual labor, using your brother-in-law and giving him a cow for his work, ... is very common out in the campo. But, that sort of approach doesn't really fit the accounting requirements of the law.

For the major project part (there is also a "mom and pop" part), it reads like a law to encourage the Hilton or Hilton equivalent to invest. Not a bad thing but a different thing.

306

Submitted by rogertroll on Sat, 2008/11/22 - 21:29.

It.s quite complicated. It have been used for personal gains to that the Goverment has revised it several times.

The law was made for INVESTORS as a tool to bring stuff into this country without taxes and ultimate benefit the Nicaraguan Economy..

The law includes a lot of things, the version I am looking at is Decree 89-99 issued July 7th 2003.

It's in English.

The issue is that the law was abused by NICARAGUANS not by any US or European investor, it became a tool for the insiders to get a lot of merchandise tax free in to this country, the law still exist, but don't count on any of the rules written there, it has gone down the drain together with a lot of other issues. Roger.

hey amigo

Submitted by Pinolero2 on Sat, 2008/11/22 - 21:50.

Dear vikingo.

I hope you are not confusing it with Ley Regimen 382??? which is a sub,regimen zona franca.

Law 306

Submitted by nicareal on Mon, 2008/11/24 - 08:59.

is mainly an instrument to encourage investment that will further tourism in the country.

Complicated? Yes!

Worth your while? Depends on the size of your investment.

Yes

Submitted by fyl on Fri, 2008/11/21 - 16:06.

There is the law and there are revisions. The law, I think is from 1999 but there are revisions in 2000 and 2006. I suggest going to the legislature search site (http://legislacion.asamblea.gob.ni/Normaweb.nsf/$$Search?OpenForm) and searching for 306. It will get you more than you want but if you just search for "Ley No. 306" or "Ley 306" you will miss some of the pieces.