TAX RATES > Honduras Tax Rates


Honduras Tax Rates

honduras personal Income Tax

Honduras personal income tax rates are progressive up to 25%.

Basis - Residents are taxed on worldwide income; nonresidents are taxed only on Honduran-source income. For 2009, the ceiling for tax-exempt income is HNL 110,000, plus HNL 40,000 of medical expenses without supporting documents.

Residence - An individual is resident in Honduras if he/she lives in the country and, in the case of foreigners, if he/she obtains the required permit from the immigration office.

Filing status - Married couples are not required to file a joint return.

Taxable income - Taxable income is comprised of income earned from employment, the carrying on of a business or profession, investment income and any other gains.

Capital gains - Capital gains are generally subject to a 10% tax.

Tax Deductions and tax allowances - Individual taxpayers are entitled to various deductions, but no personal allowances are granted.

Real property tax - Real property tax is levied annually by the local governments, with the rates depending on the location of the property.

Social security - An employee must contribute 3.5% of his/her salary to social security.

Inheritance/estate tax - No
Net wealth/net worth tax - No
Capital duty - No
Stamp duty - No
Capital acquisitions tax - No
Tax year - Calendar year

Filing and payment - The personal income tax return must be filed by 30 April of the year following the tax year and any tax due must be paid at that time.

Penalties - Penalties for nonpayment of tax range from 5%-60% of the tax due.


honduras Corporate Tax Rates

Honduras corporate tax rate is 25%, plus a 5% temporary social contribution tax.

Residence - A company is resident in Honduras if is incorporated according the Honduran Commercial Code.

Basis - Resident companies are taxed on worldwide income; nonresident companies are taxed only on Honduran-source income.

Taxable income - Taxable income for corporate income tax purposes includes all income and gains that increase the taxpayer's net worth, less deductions for expenses related to the production of income.

Taxation of dividends - Dividends are not subject to tax and are not included in taxable income.

Capital gains - Capital gains are taxed as ordinary income at a rate of 10%.

Losses - Tax losses generally may not be carried forward or back. However, tax losses for manufacturing, agribusiness and tourist companies may be carried forward for 3 years.

Surtax - No
Alternative minimum tax - No
Foreign tax credit - No
Participation exemption - No
Holding company regime - No

Tax Incentives - The tourism sector and companies operating in free zones are subject to favourable tax treatment, as are mining companies.

Withholding tax:

Dividends - Dividends are not subject to withholding tax.
Interest - Interest paid to a nonresident is subject to a 5% withholding tax.
Royalties - Royalties paid to a nonresident are subject to a 25% withholding tax.
Branch remittance tax - No

Other taxes on corporations:

Capital duty - No
Payroll tax - No
Real property tax - Real property tax is levied annually by the local governments, with the rates depending on the location of the property.
Social security - Employers must pay 7% of salaries for state welfare.
Stamp duty - No
Transfer tax - A transfer tax equal to 1.5% of the transfer value is levied.
Other - District and municipal governments impose various levies.

Anti-avoidance rules:

Transfer pricing - No

Thin capitalisation - While there are no thin capitalisation rules per se, interest paid to shareholders is not deductible for corporation tax purposes.

Controlled foreign companies - No
Disclosure requirements - No

Tax year - The tax year corresponds to the calendar year, but a different accounting year may be authorised by the Honduran tax authorities.

Consolidated returns - Consolidated returns are not permitted; each company must file a separate tax return.

Tax Filing requirements - The tax return and payment must be made within the first 4 months of the year following the tax year. Alternatively, 3 advance payments may be made during the tax year (in June, September and December), with any balance due paid before 30 April of the year following the tax year. Excess tax paid will be credited against the next fiscal period's tax liability.

Penalties - Various penalties apply for failure to file a tax return.


honduras VAT (Value Added Tax) Rates

Honduras VAT rate is 12% on goods and services and 15% on alcoholic beverages and tobacco. Farm produce, basic food products and pharmaceuticals are exempt.

Taxable transactions - Honduras imposes a sales tax on the provision of goods and services.

Registration - No

Filing and payment - The sales tax return must be filed by the 10th of each month.


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Last Update:  Nov 2010

(This page may show previous year's tax rates. Always check last update time)

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