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2009-11-04

Nov. 4 News Brief Central America/Caribbean

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MEXICO CITY, Mexico – State predicts increased corporate tax revenues: In the wake of amendments to the Income Tax Law (ISR) and a formal request from President Felipe Calderón for Mexican companies to honor their fiscal obligations, the Ministry of Tax and Public Finance (SHCP) expects to collect approximately US$3.24 billion over a five-year period. The SHCP's collection department assured that 50 percent of outstanding corporate tax debts would be settled in the first two years.

[Excélsior, Reuters]

MANAGUA, Nicaragua – EU ministers to analyze Ortega re-election ruling: During their next meeting on Nov. 16, the foreign ministers of the European Union (EU) will adopt an official position regarding a ruling by Nicaragua's Supreme Court of Justice that cleared the way for the re-election of Daniel Ortega and 109 Sandinista mayors. The Swedish EU Presidency announced it hoped to make "diplomatic progress" on the matter. The EU suspended US$97 million in aid to the Nicaraguan government after the municipal elections in 2008.

[EFE, La Tribuna]

SAN JOSÉ, Costa Rica – Progress made toward fiscal transparency: After approving a series of legal reforms to lift banking secrecy, Costa Rica was removed from a blacklist of tax havens published in April by the Organization for Economic Cooperation and Development (OECD). The latest version of the list now places Costa Rica on a "gray list" of countries that have pledged to implement international fiscal standards. Before it meets these standards, Costa Rica must first sign a series of bilateral agreements on banking transparency.

[Nación, SIECA]

TEGUCIGALPA, Honduras – Congress consults Supreme Court over Zelaya's reinstatement: Before voting on the reinstatement of deposed President Manuel Zelaya, the Honduran Congress will ask the Supreme Court of Justice (CSJ) for its opinion on the matter. The CSJ was one of the bodies that approved Zelaya's ousting and backed the decree removing the ousted president for alleged constitutional breaches. The Honduran Congress confirmed it would meet within 15 days to define the situation before the general elections, scheduled for Nov. 29.

[La Tribuna, El Nuevo Diario]

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