Saturday, 28 November 2020

Nicaragua To Tax Street Signs

614051747_f78165a511_zTODAY NICARAGUA – An announcement has been made that the Legislature will resume discussion of approving the Signs Act, which aims to charge an annual tax on advertising signs installed on streets and roads.

As yet no date has been announced for the return to the discussion of the rules, but consultation is already taking place with the 153 municipalities of the country. The tax proposed, for each sign, varies depending on the size, type of structure and placement.

Elnuevodiario.com.ni reports that “… Article 19 of the initiative, explains that hoardings that are placed on the avenues and mostly tied power line poles will have to pay a tax of $10 and will last for six calendar days, Monday to Saturday and hoarding owners must ensure the removal thereof, on Sundays. ”

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“… The initiative states that the corresponding mayor, must require the applicant to present an insurance policy against third party damage covering the term of the permit which the hoarding has, without prejudice to the other requirements established for its installation. ”

Source: elnuevodiario.com.ni

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