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Honduras Import Regs.: Tariffs and Taxes

Import regulations, commercial guide of and business travel to the countries in Central America and South America.

Honduras Import Regs.: Tariffs and Taxes

Postby bridgat » Tue Nov 18, 2008 5:53 am

Duties generally range from between 0 and 15 percent for most items. Approximately 77% of Honduras' customs duties are harmonized with the tariffs of the Central American Tariff System (SAC). Under the SAC regime, raw, intermediate, and capital goods not produced in the region are duty free, and finished goods have a duty of 15%.

Important domestic and import tax changes were recently made under the Financial Balance and Social Protection Act, Decree No. 194-2002 of June 5, 2002. Among the most significant amendments is the duty assessed to the importation of automotive vehicles under tariff headings included in Chapter 87 of the Central American Tariff System, which was reduced to 15% and an elimination of the tariff based on engine size.

Import duties to petroleum derivatives and other non-petroleum fuels purchased by the National Electric Power Company (ENEE) and private sector power generating firms that sell their production to ENEE were also eliminated.

Under the General Treaty on Central American Integration, most products imported from other CACM countries are duty free.

In addition to customs duties, taxes are charged as follows:

4% IVA: Applied to most products, however certain items of necessity are exempted.

15% Sales Tax: Applied to beer, brandy, compound liquors, other alcoholic beverages, cigarettes, and other tobacco products. This tax is levied on the distributor sale price, in some cases including, and in other cases excluding the production and consumption tax.

10% Selective Consumption Tax: Applied to some products considered non-essential such as alcoholic beverages. This tax will be eliminated in 2004.

Additional taxes may apply on cigarettes, certain types of alcoholic beverages, petroleum by-products, and certain services such as ticket sales for public entertainment, insurance premiums, and tourist services.
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