By means of Notice No. 089/08-2021, the Dirección General de Ingresos – DGI (General Directorate of Revenues) informs and reminds taxpayers of the dates for the payment and filing of taxes corresponding to the period of July 2021.
1. Provisions for return and payment
Those taxpayers with income of less than C$60 million cordobas must file their tax returns for the month of June/2021 by August 5, 2021, and their payments must be made as explained below:
With respect to taxpayers with income of less than 60 million per year:
- For the declaration of taxes withheld at source, VAT, ISC (Impuesto Selectivo al Consumo or Selective Consumption Tax), and Advance Income Tax/PMD, it will be no later than the fifth calendar day following the taxable period.
- For the payment of taxes withheld at the source, it shall be no later than the fifth calendar day following the taxable period.
- For the payment of VAT, ISC, and Advance Income Tax/PMD, it shall be made within fifteen calendar days of the month following the taxable period at the latest.
Regarding Taxpayers of the Simplified Regime (Fixed Quota):
- The payment of the monthly quota shall be made within fifteen calendar days of the month following the taxable period.
2. Fines for non-compliance
According to Article 124 of the Nicaraguan Tax Code, the type of penalties that the Tax Administration may apply to taxpayers who do not comply with their tax obligations:
- Closure of premises or businesses;
- Loss of concessions and other tax benefits;
- Disqualification for the exercise of trades and professions in tax matters provided that such performance requires the approval of the Tax Administration;
- Administrative intervention of businesses or companies.
In this regard, taxpayers are advised to cancel and file their tax obligations on time.